Caspian Capital Issues Statement on Martin Midstream Partners L.P.
Caspian Capital LP has released a statement regarding Martin Midstream Partners L.P. (NASDAQ: MMLP), expressing support for MMLP's December 26th decision to terminate its merger agreement with Martin Resource Management
Caspian maintains their belief in MMLP's potential valuation being significantly higher than the previously proposed merger purchase price. The firm has discontinued its acquisition efforts, ended collaboration with Nut Tree Capital Management L.P., and currently has no plans for company control.
Moving forward, Caspian will focus on monitoring MMLP's execution, capital allocation, and engaging with the company to maximize unitholder value as a standalone public entity.
Caspian Capital LP ha rilasciato una dichiarazione riguardo a Martin Midstream Partners L.P. (NASDAQ: MMLP), esprimendo supporto per la decisione di MMLP del 26 dicembre di terminare il suo accordo di fusione con Martin Resource Management.
Caspian mantiene la propria convinzione che la potenziale valutazione di MMLP sia significativamente superiore al prezzo di acquisto proposto per la fusione. La società ha interrotto i suoi sforzi di acquisizione, ha concluso la collaborazione con Nut Tree Capital Management L.P. e attualmente non ha piani per il controllo dell'azienda.
In futuro, Caspian si concentrerà sul monitoraggio dell'esecuzione di MMLP, sull'allocazione del capitale e sul coinvolgimento con l'azienda per massimizzare il valore per gli azionisti come entità pubblica autonoma.
Caspian Capital LP ha emitido un comunicado sobre Martin Midstream Partners L.P. (NASDAQ: MMLP), expresando su apoyo a la decisión de MMLP del 26 de diciembre de terminar su acuerdo de fusión con Martin Resource Management.
Caspian mantiene su creencia de que la valoración potencial de MMLP es significativamente más alta que el precio de compra propuesto en la fusión. La firma ha discontinuado sus esfuerzos de adquisición, ha finalizado su colaboración con Nut Tree Capital Management L.P. y actualmente no tiene planes para el control de la empresa.
De cara al futuro, Caspian se enfocará en monitorear la ejecución de MMLP, la asignación de capital y en interactuar con la empresa para maximizar el valor para los unitholders como entidad pública independiente.
캐스피안 캐피탈 LP가 마틴 미드스트림 파트너스 L.P. (NASDAQ: MMLP)에 대한 성명을 발표하며, MMLP가 12월 26일 마틴 리소스 매니지먼트와의 합병 계약을 종료하기로 한 결정을 지지한다고 밝혔습니다.
캐스피안은 MMLP의 잠재적 가치가 이전에 제안된 합병 구매 가격보다 상당히 높다고 믿고 있습니다. 이 회사는 인수 노력을 중단하고, Nut Tree Capital Management L.P.와의 협력을 종료했으며 현재 회사 통제에 대한 계획이 없습니다.
앞으로 캐스피안은 MMLP의 실행, 자본 배분을 모니터링하고, 독립적인 상장 기업으로서 유닛홀더 가치를 극대화하기 위해 회사와 소통하는 데 집중할 것입니다.
Caspian Capital LP a publié un communiqué concernant Martin Midstream Partners L.P. (NASDAQ: MMLP), exprimant son soutien à la décision de MMLP du 26 décembre de mettre fin à son accord de fusion avec Martin Resource Management.
Caspian reste convaincu que la valorisation potentielle de MMLP est significativement supérieure au prix d'achat proposé pour la fusion. La société a interrompu ses efforts d'acquisition, a mis fin à sa collaboration avec Nut Tree Capital Management L.P. et n'a actuellement aucun projet de contrôle de l'entreprise.
À l'avenir, Caspian se concentrera sur le suivi de l'exécution de MMLP, l'allocation de capital et l'engagement avec l'entreprise pour maximiser la valeur des détenteurs d'unités en tant qu'entité publique autonome.
Caspian Capital LP hat eine Erklärung zu Martin Midstream Partners L.P. (NASDAQ: MMLP) veröffentlicht und seine Unterstützung für die Entscheidung von MMLP vom 26. Dezember bekundet, das Fusionsabkommen mit Martin Resource Management zu beenden.
Caspian ist weiterhin davon überzeugt, dass die potenzielle Bewertung von MMLP erheblich höher ist als der zuvor vorgeschlagene Kaufpreis für die Fusion. Die Firma hat ihre Akquisitionsbemühungen eingestellt, die Zusammenarbeit mit Nut Tree Capital Management L.P. beendet und hat derzeit keine Pläne zur Kontrolle des Unternehmens.
In Zukunft wird sich Caspian darauf konzentrieren, die Ausführung von MMLP, die Kapitalallokation zu überwachen und mit dem Unternehmen in Kontakt zu treten, um den Wert für die Unitholder als eigenständige öffentliche Einheit zu maximieren.
- Termination of potentially undervalued merger agreement
- Company maintains public listing status
- Strong investor confidence in standalone value creation potential
- None.
"We welcomed MMLP's December 26th announcement of the termination of its merger agreement with Martin Resource Management Corporation, and its recognition that unitholders are confident in the value that can be created for unitholders by MMLP continuing to operate as a public, standalone company. We continue to be strong believers in MMLP, and to stand by the potential valuation analyses that we laid out in detail in our prior letters, which are well in excess of the purchase price offered by Martin Resource Management Corporation in the proposed merger. We are gratified that common unitholders will be able to realize the benefit of near- and medium-term developments that we believe will drive value. As a result, we have moved on from our prior efforts to acquire the Company, have ended our work with Nut Tree Capital Management L.P., and have no current plans relating to the control of the Company. We remain focused on monitoring the Company's execution and capital allocation, and engaging with the Company on its efforts to maximize value creation for unitholders as a standalone company."
About Caspian Capital LP
Caspian Capital LP's absolute return strategy was founded in 1997 and is focused on performing, stressed, distressed corporate credit, and value equities.
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SOURCE Caspian Capital LP
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