Energy Transfer Equity - Energy Transfer Partners Deal Declared Effective By SEC

(RTTNews) - Energy Transfer Equity, L.P. (ETE) and Energy Transfer Partners, L.P. (ETP) announced that ETE's Registration Statement on Form S-4 relating to the previously announced merger transaction between ETE and ETP has been declared effective as of September 7, 2018 by the Securities and Exchange Commission, and that ETP has filed a definitive proxy statement with the SEC for the special meeting of its unitholders to vote on the merger.

The special meeting of ETP unitholders will be held on October 18, 2018, at Hilton Dallas Park Cities Hotel, 5954 Luther Lane, Dallas, Texas 75225. All ETP common unitholders of record as of the close of business on September 10, 2018, which is the record date for the special meeting, will be entitled to vote their common units.

The approval of the proposal to adopt the merger agreement requires the affirmative vote of holders of at least a majority of the outstanding ETP common units held by unaffiliated ETP common unitholders, and as such, not voting will have the same effect as a vote against the merger.

As per the terms of the merger agreement, upon completion of the merger, ETP unitholders will receive 1.28 common units of ETE for each common unit of ETP they own.

ETE and ETP expect the transaction to close in October 2018, subject to certain closing conditions under the terms of the merger agreement, including receipt of the required approval by ETP's unitholders and the satisfaction of other customary closing conditions.