Business
Martin Midstream Partners L.P. to Hold Special Meeting on December 30, 2024 for Unitholders to Approve Pending Transaction
Launches New Website, MaximizeValueforMMLP.com Martin Midstream GP LLC Board and Conflicts Committee Urge Unitholders to use the WHITE Proxy Card to Vote
About this update from Martin Midstream Partners L.p.
[{"type":"text","content":"\nLaunches New Website, MaximizeValueforMMLP.com\n\n\nMartin Midstream GP LLC Board and Conflicts Committee Urge Unitholders to use the WHITE Proxy Card to Vote “FOR” the Transaction, Which Will Deliver a 34% All-Cash Premium\n\n\n KILGORE, Texas--(BUSINESS WIRE)--\nMartin Midstream Partners L.P. (“MMLP”) (Nasdaq: MMLP) today announced it has filed a definitive proxy statement with the U.S. Securities and Exchange Commission in connection with Martin Resource Management Corporation’s (“MRMC”) pending acquisition of all of the outstanding MMLP common units other than common units already owned by MRMC and its subsidiaries, in an all-cash merger transaction whereby each unitholder will receive $4.02 per common unit. MMLP also launched a website, MaximizeValueforMMLP.com, which highlights the terms and benefits of the transaction and provides voting instructions for eligible unitholders.\n\n\nThe MMLP Special Meeting of unitholders is scheduled to take place on December 30, 2024, at 10:00 a.m. CT, at MMLP’s office located at 4200 B Stone Road, Kilgore, Texas 75662. Unitholders of record as of November 8, 2024 are entitled to vote at the meeting. All eligible unitholders will receive a copy of the definitive proxy statement in the mail, along with instructions on how to vote their units.\n\n\n“The filing of the definitive proxy statement is an important milestone as we advance towards completing the transaction,” said Bob Bondurant, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of the Partnership (the “General Partner”). “The Conflicts Committee of the Board of Directors of the General Partner (the “GP Board”), which consists of three independent directors, conducted a thorough, nine-month evaluation with the support of independent legal and financial advisors and was diligent about considering the best path forward for MMLP. Ultimately, after extensive negotiations that resulted in a significantly improved proposal from MRMC, the Conflicts Committee unanimously and in good faith determined that the pending merger is fair and reasonable to, and in the best interests of, MMLP and the unaffiliated holders of MMLP common units. The transaction will deliver for unitholders a 34.00% premium to the market closing price prior to MRMC’s initial proposal on May 24, 2024, and an 11.33% premium to the tr...