Enterprise Products Partners and Duncan Energy Partners
Enterprise Products Partners L.P. (NYSE:EPD) and its affiliate Duncan Energy Partners (NYSE:DEP) announced on September 7 that Duncan's unitholders had approved the proposed merger of Duncan with a subsidiary of Enterprise. Over 99.9 of the common units voted, representing about 77.3% of all common units, favored the merger. Duncan's acquisition by Enterprise was initially proposed in February 2011 and announced on February 23 (see story here).
The merger was completed later in the day. Under the terms of the merger, Duncan unitholders were entitled to receive 1.01 Enterprise common units for each common unit they owned, with cash being paid in lieu of any fractional units. Duncan's units ceased trading on the New York Stock Exchange at the close of business on September 7 and were to be delisted as of the opening of the market on September 8. Enterprise's units will continue to trade as before.