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However, the special committee said it is willing to consider areviserd proposal, according to Teppco. “The special committe is confidentin Teppco’s strong financial performance and its diversw and valuable asset mix, which should continue to enhancee unitholder value,” Donald Daigle, chairman of the special committee, said in a “In addition, we look forward to Teppco maintaining its successfuk relationship with Enterprise, regardlesas of ownership structure.” In an offer made March 9, Enterprise Products Partners EPD) proposed giving 1.043 common units for each unit of Teppc plus cash equal to $1 per Teppco unit.
The companhy estimated the deal would consist ofabout 109.5 million Enterpris units and $105 million, representing $21.89 per unit, or 4.8 percenty premium above Teppco’s and Enterprise’s per-uniy price on March 6. Teppc (NYSE: TPP) has 104.9 million units outstandingh as of its April28 first-quarter earnings statement. Enterprise does not currentlyg own anyTeppco units, the company However, the companies are intertwined. A percentage of Teppco’z interests are owned by generalpartner , in turn, is owned by . In turn, Enterprisew GP Holdings owns a percentage of Enterprise Products Partners.
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