Energy Transfer stock gains after $1.45 billion deal to buy Lotus Midstream

Shares of Energy Transfer LP ET rose 0.9% in premarket trading Monday, after the pipeline company announced an agreement to buy fellow Texas-based developer of crude oil transport infrastructure Lotus Midstream LLC in a deal valued at $1.45 billion. Under terms of the deal, Energy Transfer will pay $900 million in cash and issue about 44.5 million new shares, representing about 1.44% of the shares outstanding.

9% in premarket trading Monday, after the pipeline company announced an agreement to buy fellow Texas-based developer of crude oil transport infrastructure Lotus Midstream LLC in a deal valued at $1.45 billion. Under terms of the deal, Energy Transfer will pay $900 million in cash and issue about 44.5 million new shares, representing about 1.44% of the shares outstanding.

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