KILGORE, Texas–(BUSINESS WIRE)–Martin Midstream Partners L.P. (NASDAQ:MMLP) (“MMLP”) today announced that Martin Resource Management Corporation (“MRMC”) filed an amendment to its Schedule 13D (the “13D Amendment”) with the U.S. Securities and Exchange Commission. The 13D Amendment discloses that MRMC has made a non-binding proposal to the Conflicts Committee (the “Conflicts Committee”) of the Board of Directors of Martin Midstream GP LLC (the “GP Board”), the general partner of MMLP, pursuant to which MRMC would acquire all of the outstanding Common Units of MMLP not already owned by MRMC or its subsidiaries for a cash purchase price of $3.05 per Common Unit. The other terms of proposal are set forth in the 13D Amendment.
The proposed transaction is subject to several contingencies, including the approval of the Conflicts Committee and the GP Board, the approval by MMLP’s unitholders, and the satisfaction of any conditions to the consummation of a transaction set forth in any definitive agreement concerning the transaction. There can be no assurance that definitive documentation will be executed or that any transaction will materialize on the terms described above or at all.
Martin Midstream Partners LP, headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the Gulf Coast region of the United States. MMLP’s primary business lines include: (1) terminalling, processing, and storage services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing, and distribution; and (4) marketing, distribution, and transportation services for natural gas liquids and blending and packaging services for specialty lubricants and grease. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn, Facebook, and X (formerly known as Twitter).
Forward-Looking Statements
This press release includes “forward-looking statements as defined by the Securities and Exchange Commission (the “SEC”). These forward-looking statements and all references to financial estimates rely on a number of assumptions concerning future events and are subject to a number of uncertainties, including (i) uncertainties relating to MMLP’s future cash flows and operations, (ii) MMLP’s ability to pay future distributions, (iii) future market conditions, (iv) current and future governmental regulation, (v) future taxation, and (vi) other factors, many of which are outside its control, which could cause actual results to differ materially from such statements. While MMLP believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in anticipating or predicting certain important factors. A discussion of these factors, including risks and uncertainties, is set forth in MMLP’s annual and quarterly reports filed from time to time with the SEC. MMLP disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events, or otherwise except where required to do so by law.
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Contacts
Sharon Taylor
Executive Vice President and Chief Financial Officer
(877) 256-6644
