Deal: M5 Midstream bids for Azure Midstream, comes up short


[Context: On March 7, M5 Midstream received an HSR Early Termination Notice from the FTC for its acquisition of Azure Midstream Partners. The company was named as the stalking horse bidder in a Chapter 11 bankruptcy sale process of all Azure’s assets for $151.1m, and was represented by Locke Lord. On March 10, Azure disclosed in bankruptcy filings that Enterprise Products, through BTA Gathering LLC, had beat out M5 Midstream with a $189m bid and was identified as the successful bidder. Meanwhile M5 Midstream was flagged as the back-up bidder with a $188m offer. Bill Pritchard is CEO of M5 Midstream and  Indigo Resources, according to a Houston Business Journal report. Indigo Resources is backed by Energy Minerals Group and Trilantic North America.]

This content is for Introductory members only.Learn more about
Log In Register
Liked it? Take a second to support Mark Druskoff on Patreon!