8-KRegulation FDOther EventsExhibits & Filings

Energy Transfer LP 8-K Report, Regulation FD Disclosure (Aug 2, 2018)

Filed August 2, 2018For Securities:ETET-PI

Summary

This 8-K filing from Energy Transfer LP (ET) primarily announces a significant strategic transaction: a definitive merger agreement between Energy Transfer Equity, L.P. (ETE) and Energy Transfer Partners, L.P. (ETP). Under this agreement, a subsidiary of ETE will merge with and into ETP, with ETP continuing as a subsidiary of ETE. This transaction aims to simplify the corporate structure and potentially enhance value for unitholders. Key terms of the merger include ETP common unitholders receiving 1.28 ETE common units for each ETP common unit they hold. Furthermore, ETE's incentive distribution rights in ETP will be cancelled as part of the deal. The filing also includes a press release and an investor presentation detailing these transactions, providing investors with further information for consideration regarding the proposed merger and its implications. Investors should pay close attention to the cautionary statements regarding forward-looking statements and the availability of additional filings for a comprehensive understanding of the risks and details.

Key Highlights

  • 1Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP) have entered into a definitive merger agreement.
  • 2A wholly owned subsidiary of ETE will merge with and into ETP, with ETP surviving as a subsidiary of ETE.
  • 3ETP common unitholders (excluding ETE and its subsidiaries) will receive 1.28 ETE common units per ETP common unit.
  • 4ETE's incentive distribution rights (IDRs) in ETP will be cancelled as part of the transaction.
  • 5The company has issued a press release and an investor presentation to accompany the announcement.
  • 6The filing includes cautionary statements regarding the risks and uncertainties associated with the proposed transaction and its future outcomes.
  • 7Investors are advised to review upcoming filings, including proxy statements and registration statements, for more details on the transaction.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce that Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP) have entered into a definitive merger agreement. This agreement outlines the terms by which ETP will merge into ETE, simplifying the corporate structure.

ETP common unitholders (excluding those held by ETE and its subsidiaries) will receive 1.28 common units of ETE for each common unit of ETP they own.

As part of the merger agreement, ETE's incentive distribution rights in ETP will be cancelled.

This 8-K filing includes Exhibit 99.1 (a press release) and Exhibit 99.2 (an investor presentation) with more details. Additionally, investors are urged to read the upcoming proxy statement/prospectus and registration statement regarding the transaction, which will be filed with the SEC and available on the SEC's website (www.sec.gov) and from Energy Transfer's investor relations department.