November 17, 2011 / 1:48 PM / 7 years ago

SemGroup says Plains bid offers no basis for talks

(Reuters) - SemGroup (SEMG.N) on Thursday again rejected the unsolicited $1 billion bid from rival Plains All American Pipeline (PAA.N), saying the offer does not provide any reasonable basis to begin a discussion.

On Wednesday, Plains urged SemGroup to defer the IPO of a master limited partnership unit and reiterated its $24 a share bid.

SemGroup had rejected the offer in October as soon as it was made public.

SemGroup’s shares closed at $28.04 on Wednesday on the New York Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Sriraj Kalluvila)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below