SemGroup Corporation announced that its stockholders approved the issuance of SemGroup common stock
OREANDA-NEWS. SemGroup® Corporation (NYSE:SEMG) announced that its stockholders approved at a special meeting of stockholders today the issuance of SemGroup common stock pursuant to the previously announced agreement providing for SemGroup’s acquisition of all of the outstanding common units of Rose Rock Midstream®, L.P. (NYSE:RRMS) not already owned by the company in an all stock-for-unit transaction.
More than 99 percent of the shares of SemGroup’s common stock that were voted approved the share issuance. Subject to customary approvals and conditions, the transaction is expected to close on Sept. 30, 2016.
Based in Tulsa, Okla., SemGroup® Corporation (NYSE:SEMG) is a publicly traded midstream service company providing the energy industry the means to move products from the wellhead to the wholesale marketplace. SemGroup provides diversified services for end-users and consumers of crude oil, natural gas, natural gas liquids, refined products and asphalt. Services include purchasing, selling, processing, transporting, terminalling and storing energy.