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PAA Natural Gas Storage gets buyout offer from Plains All American

Aug. 27, 2013 5:38 PM ETPAA Natural Gas Storage, L.P. (PNG) StockPAA, PNGBy: Carl Surran, SA News Editor1 Comment
  • PAA Natural Gas Storage (NYSE:PNG) +6.7% AH after receiving a buyout proposal from Plains All American Pipeline (NYSE:PAA) for all outstanding publicly held common units through a unit-for-unit exchange.
  • The proposed consideration represents a value of $22.74/unit based on the trailing 10-day average closing price of PAA's common units through Aug. 26.

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