Majority Shareholder Withdraws Proposal To Acquire Parent Of Retail Supplier
June 4, 2020 Email This Story Copyright 2010-20 EnergyChoiceMatters.com
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Sprague Resources LP ('Sprague') announced today that Sprague Resources Holdings LLC ('Holdings') has withdrawn its previously announced non-binding proposal, dated March 25, 2020, to acquire all of the outstanding common units of Sprague that Holdings and certain of its affiliates do not already own.
Holdings and certain of its affiliates held approximately 53.3% of the outstanding common units of Sprague as of March 26, 2020.
Among other businesses, Sprague Resources LP markets natural gas to approximately 14,000 commercial and industrial customer locations primarily located in the Northeast and Mid-Atlantic United States. The company also brokers retail electricity