Summit Midstream advances planned conversion to C-corporation

Summit Midstream Partners announced that it filed a proxy statement/prospectus and investor presentation and scheduled a Special Meeting of Common Unitholders to vote on the reorganization from a master limited partnership to a C-corporation. Heath Deneke, President, Chief Executive Officer, and Chairman, commented, “After carefully considering a wide range of opportunities, the Board is confident that reorganizing to a C-corporation is in the best interests of Summit and all unitholders. The transaction will reduce unitholders’ tax burden; simplify Summit’s structure to make the equity easier to own; enhance trading liquidity; greatly expand the universe of potential investors; and reduce administrative burden, providing greater transparency and easier decision-making for investors. We urge all Summit common unitholders to vote ‘FOR’ the reorganization to a C-corporation.”