Anatomy of an MLP Transaction: Is Half a Billion Dollars Expensive?
Vanguard Natural Resources (ticker: VNR) announced on April 20th that the company had entered into a purchase and sale agreement to acquire LRR Energy (ticker: LRE) for a total of $539 million. The purchase price includes $251 million in equity and $288 million in debt. The transaction will be an exchange of common units, where LRE unitholders will receive 0.55