Ergon Extends Offer to Acquire Blueknight Energy

Updated 1 year 10 months ago

Blueknight Energy announced that Ergon filed an amendment to its Schedule 13D with the SEC. The 13D amendment discloses that Ergon has made a non-binding proposal to the Board of Directors of Blueknight pursuant to which Ergon would acquire all the outstanding common units and Series A preferred units not already owned by Ergon and its affiliates for a cash purchase price of USD 1.35 per common unit and 5.67 per Series A unit. The other terms of proposal are set forth in the 13D amendment.

The proposed transaction is subject to several contingencies, including the approval of the Conflicts Committee, approval by unitholders, and the satisfaction of any conditions to the consummation of a transaction set forth in any definitive agreement concerning the transaction.