Updated from 11:42 a.m. EDTKaneb Services (KSL) and Kaneb Pipe Line Partners (KPP) both rose sharply Monday after Valero Energy (VLI) agreed to acquire them via its Valero L.P. (VLI) affiliate. Holders of Kaneb Services will receive $43.31 cash for each share held, while owners of Kaneb Pipe Line will get equity units worth roughly $61.50. All together, the merged entity will own 9,700 miles of pipeline and own 101 terminal assets in 30 states.
Stocks in Motion: Kaneb
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