Text Size:
A | A

Devon, Crosstex Merger Clears Antitrust Hurdle, Unveils New Name

Text Size: A | A
By Darren Barbee, Hart Energy
January 15, 2014

Devon Energy Corp.’s (NYSE: DVN) multi-billion dollar stake in a new midstream company has cleared one federal hurdle for its merger by running out the clock on the Hart-Scott-Rodino Antitrust waiting period.

The venture with Crosstex Energy Inc. (NasdaqGS: XTXI) and Crosstex Energy LP (NasdaqGS: XTEX) also has a name. The companies said Jan. 15 that EnLink Midstream Partners LP and EnLink Midstream LLC have been selected for the new combined midstream business following the completion of the transaction.

Devon’s market value in the company is about $6.5 billion, John ...

Already a subscriber? Log In
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription