UPDATE 1-Tallgrass Energy replaces CEO Dehaemers with operations head Moler [Reuters]
TALLGRASS ENERGY LP (TGE)
Last tallgrass energy lp earnings: 8/2 06:45 am
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Source: Reuters
UPDATE 1-Tallgrass Energy replaces CEO Dehaemers with operations head Moler (Adds Blackstone comment, background, TGE shares) Nov 25 (Reuters) - Pipeline operator Tallgrass Energy LP said on Monday Chief Executive Officer David Dehaemers would be replaced by operations head Bill Moler, a move that was backed by shareholder Blackstone Group Inc. Dehaemers had come under fire from retail investors last month over a non-binding preliminary proposal by the private equity firm, which included a provision for management to be paid nearly 30% premium for shares in the general partner that owns Tallgrass. In August, Blackstone Infrastructure Partners, its partners and affiliates, who together own nearly 44.2% stake in Tallgrass, including 23.7 million Class A shares, made an offer to buy the remaining shares at $19.50 per unit. Dehaemers, however, defended the provision and blamed selling shareholders for a 23% drop in stock price. Shares of Tallgrass Energy fell 1.3% to $17.82 in early tradi
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