Magellan to Acquire Petroleum Pipeline from Plains All American; Shares Inch Higher

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Magellan Midstream Partners ( MMP ) will acquire approximately 800 miles of refined petroleum products pipeline from Plains All American Pipeline L.P. ( PAA ) for $190 million.

MMP expects the acquisition to be immediately accretive to the partnership's distributable cash flow per unit, with the potential for additional growth in cash flow from the assets over time. The acquisition is expected to close in the Q2 2013 subject to regulatory approvals.

MMP is up 0.4% at $49.59 in a 52-week range of $33.31 - $51.74.

PAA is up 0.8% at $54.27 in a 52-week range of $37.59 - $55.16.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: MMP , PAA

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