Southcross Energy Partners LP (fka SXEEQ)

[stargazer123]

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 SXE fell to $0.70, but since then has climbed to $0.82. It closed yesterday at $0.78.

Its parent company is receiving $17M. It is still a viable company, and may even receive a joint venture bid from another company. If its shares start falling, it might be a good idea to sell it.