Plains All American Pipeline LP said takeover target SemGroup Corp must defer the IPO of its limited partnership until it starts talks on Plains' unsolicited $1 billion bid. Plains All American said SemGroup's planned IPO of Rose Rock Midstream L.P. may reduce the value available to SemGroup's shareholders in a sale of the company.
Plains All American Pipeline, L.P. (PAA) is engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas (LPG) and other natural gas-related petroleum products. Shares of PAA fell by 0.12% or $-0.08/share to $64.36. In the past year, the shares have traded as low as $54.90 and as high as $66.80. On average, 681668 shares of PAA exchange hands on a given day and today's volume is recorded at 14199.
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