MARKETS REVERSE AGAIN!
Keep an eye on the afternoon close as we could at another one of those stair step mini tops that have been occuring every couple of weeks which means a trip down to 9800 on the dow is not impossible. Nothing ominous on the MLP index chart this morning. It all appears pretty routine as big energy stocks sell off. Distirbutions coming probably giving us some firm support underneath.
No big movers today to speak of. The mlp index is down a fraction and most mlps are churning in a rage of plus 4o cents to minus 40 cents.
Lots going on. Will update later.
joseph cioffi's Source Page - Associated Content
3 comments:
10/23/2009 7:30 PM EDT
TEPPCO Unitholders Approve Merger with Enterprise
TEPPCO Partners, L.P. (NYSE:TPP) and Enterprise Products Partners L.P. (NYSE:EPD) today announced that the TEPPCO unitholders have approved the merger of TEPPCO and Enterprise, which will create the nation's largest publicly traded energy partnership with an enterprise value of approximately $30 billion. Approximately 97 percent of the TEPPCO units that voted were cast in favor of the merger and represented about 71 percent of TEPPCO's total outstanding units. In addition, approximately 96 percent of the votes cast by Unaffiliated TEPPCO Unitholders approved the merger of the two partnerships. Under the terms of the merger agreement, TEPPCO unitholders will receive 1.24 Enterprise common units for each TEPPCO unit owned at the effective time of the merger, which is expected to be completed October 26, 2009.
they must have counted those votes in afghanistan since everybody I know voted against the merger.lousy valuation costs us dividend cut
I keep thinking I'm missing something. there price Has went up $3 since I sold it.
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