Martin Midstream Partners to be acquired by Martin Resource Management

Martin Midstream Partners announced that it has entered into a definitive agreement and plan of merger pursuant to which Martin Resource Management Corporation would acquire all of the outstanding common units of MMLP not already owned by MRMC and its subsidiaries. The Merger Agreement follows the offer made by MRMC in May 2024 to acquire the Public Common Units. The Merger Agreement provides for an all-cash transaction whereby each holder of the Public Common Units would receive $4.02 per common unit owned, representing a 34.00% premium to the market closing price prior to MRMC’s initial proposal made on May 24, 2024 and an 11.33% premium to the trailing 30-trading day volume-weighted average price. The transaction is expected to close by the end of 2024, subject to customary closing conditions, including regulatory approval and the approval by the holders of a majority of the outstanding common units.