Andeavor Logistics Announces Closing Date for Western Refining Logistics Acquisition, IDR Buy-In and Unitholder Consent Deadline

Source Press Release
Company Andeavor Logistics LPWestern Refining Logistics, LP 
Tags Corporate Deals, Deals, LNG & Gas Storage/Processing, Pipelines/ tankers/ distribution
Date September 28, 2017

Andeavor Logistics LP (NYSE:ANDX) and Western Refining Logistics, LP (NYSE:WNRL) today announced that the board of directors of WNRL’s general partner has set September 28, 2017 as the record date for determining holders of WNRL common units entitled to execute and deliver written consents with respect to the proposed acquisition. The consent process will conclude on October 27, 2017. The approval and adoption of the acquisition requires the affirmative vote or consent of holders of at least a majority of the outstanding WNRL common units. Certain  Andeavor affiliates, which beneficially own a majority of the outstanding WNRL common units, have delivered a written consent adopting and approving in all respects the Agreement and Plan of Merger, dated as of August 13, 2017 (the “Merger Agreement”) and the transactions contemplated thereby. The delivery of this consent is sufficient to adopt the Merger Agreement and approve the acquisition by  Andeavor Logistics of WNRL, without the receipt of written consent from any other holder of WNRL common units.  Andeavor Logistics expects the closing of the acquisitionto occur on October 30, 2017, subject to the satisfaction or waiver of the remaining customary conditions to closing. As previously announced on August 14, 2017, the IDR Buy-In transaction between  Andeavor (NYSE:ANDV) and  Andeavor Logistics is expected to immediately follow the closing of the WNRL acquisition.

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