Plains All American drops SemGroup offer

April 19, 2012

Plains All American Pipeline LP has withdrawn its unsolicited October 2011 proposal to acquire pipeline operator SemGroup Corp.

Paula Dittrick

Plains All American Pipeline LP has withdrawn its unsolicited October 2011 proposal to acquire pipeline operator SemGroup Corp.

No additional comment or details were available, Plains said.

In early October 2011, Plains offered to buy SemGroup for $24/share. SemGroup rejected the offer. In November 2011, Plains reiterated its offer to acquire SemGroup.

Plains first approached SemGroup in March 2010 with a $17/share offer.

About the Author

Paula Dittrick | Senior Staff Writer

Paula Dittrick has covered oil and gas from Houston for more than 20 years. Starting in May 2007, she developed a health, safety, and environment beat for Oil & Gas Journal. Dittrick is familiar with the industry’s financial aspects. She also monitors issues associated with carbon sequestration and renewable energy.

Dittrick joined OGJ in February 2001. Previously, she worked for Dow Jones and United Press International. She began writing about oil and gas as UPI’s West Texas bureau chief during the 1980s. She earned a Bachelor’s of Science degree in journalism from the University of Nebraska in 1974.