Starkey Citizens for a Clean & Healthy Environment
Crestwood to Merge With Inergy to Create $7 Billion Firm

As the boom in drilling continues to foster deal-making, Crestwood Midstream Partners L.P. agreed to buy control of a fellow gas pipeline operator, Inergy L.P., on Monday to form a company with a combined enterprise value of about $7 billion.

The complicated takeover is built on a series of cash-and-stock transactions, in which Crestwood Midstream and its affiliate, Crestwood Holdings, will take over Inergy and a related master limited partnership, Inergy Midstream L.P.

Together, the combined company will provide pipeline and other services in some of the biggest oil and gas drilling areas on the continent, including the Marcellus, Bakken and Eagleford shale formations. The merged pipeline operator is expected to generate about $450 million in earnings before interest, taxes, depreciation and amortization this year.
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