M&A: Buyout plans for MLP quietly crumble

摘要

A complicated internal buyout of master limited partnership Sprague Resources LP was quietly withdrawn in early June, with no specific description as to why the deal fell apart. Sprague Resources Holdings had offered to buy all the outstanding units that it did not own back in late March, in a non-binding proposal. The holding company already owns the General Partner stake and a majority of units in the limited partnership. Sprague Resources Holding is owned by Axel Johnson, which is controlled by Lexa International, a company affiliated with Swedish billionaire Antonia Johnson.