Enterprise to Buy Teppco for $3.3B in Stock

By John Porretto

HOUSTON -- Enterprise Products Partners (EPD Quote) will acquire Teppco Partners (TTP Quote) in a sweetened all-stock deal worth about $3.3 billion, forming what the two pipeline operators say will be the nation's largest publicly traded energy partnership.

The new partnership, announced Monday and expected to close by year's end, will have operations throughout the U.S., on the east, west and gulf coasts.

Keeping the name Enterprise Products Partners, it will own nearly 48,000 miles of crude and natural gas pipelines; 200 million barrels of storage capacity for natural gas liquids, crude and refined products; and 27 billion cubic feet of natural gas storage capacity. ...