Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Kinetik (KNTK) just unveiled an announcement.
Kinetik Holdings Inc. has finalized its acquisition of Durango Permian, LLC from Durango Midstream LLC, an affiliate of Morgan Stanley Equity Partners, for approximately $765 million. The deal includes a mix of cash, common units, and shares, with additional shares to be issued in the future. Additionally, the seller could receive a $75 million earn out depending on the success of a specific project. As part of the agreement, the seller obtains certain rights including appointing a board observer and rights related to the resale of the acquired securities.
See more data about KNTK stock on TipRanks’ Stock Analysis page.