American Midstream Partners LP (AMID)

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Southcross Energy Partners nixes merger deal with American Midstream
Jul. 30

Southcross Energy Partners (NYSE:SXE) says it has terminated the planned merger with American Midstream Partners (NYSE:AMID), citing AMID’s failure to achieve conditions required under the agreement.
SXE parent Southcross Holdings also has ended the planned contribution agreement with AMID as a result of a funding failure by AMID and says it is entitled to receive a $17M termination fee.

Pre-market AMID fell to $6.40, but since then has climbed to $6.55. It closed yesterday at $6.60