MARKWEST (LP) BUYS MARKWEST (GP)

Markwest Hydrocarbon shareholders are dancing in the streets this morning with a 10 dollar gain in the cards as Markwest Energy LP (MWE) is paying $61.12 per share in cash...or if you so choose cash and stock, for Markwest Hydrocarbon (MWP). There have been occasional rumours about this over the last few months. Stock closed in the 50 area yesterday. No trades yet in the pre-market. Also yesterday Magellan Holdings (MGG) priced a large offering of shares. Stock is down 1.29 in the pre-market.

We had a pretty good day considering the overall markets drop of 140 on the dow. The mlp index closed up 20 ticks and at the high for the day. About half the list was down and half up. The energy complex is higher this morning across the board. Stock futures were higher overnight until 6am this morning when China'S central bank raised reserve requirments. Futures went from +2 to -5. Then some good Walmart numbers and the futures are now just -2.
No other corporate headlines this morning and no upgrades or downgrades.

Headlines as they break.