Dallas, Texas 03/20/2014 (FINANCIALSTRENDS) – Eagle Rock Energy Partners, L.P.(NASDAQ:EROC), has been making all the right noises to make its transaction with Regency Energy Partners LP (NYSE:RGP) gain traction. The run up to the transaction is the filing of the definitive proxy statement by EROC at the country’s highest regulatory body for securities and exchanges, SEC.
Definitive Proxy Statement
Eagle Rock Energy Partners, L.P.(NASDAQ:EROC) now needs the unit holders approval for the transaction it has initiated with Regency Energy Partners.
This phase will now allow, through a special meeting, the unit holders to endorse the said transaction. The date set for the transaction to complete is April 29.
The eligible unit holders are all of those who as of March 6, 2014 hold ownership of the units. The company has indicated that the said ownership would be unequivocal ownership or be proxy ownership as well.
Eagle Rock Energy Partners, L.P.(NASDAQ:EROC) transaction with RGP is yet subject to the final conditions in the Contribution Agreement. The transaction is expected to be completed before the sixth month of June 2014. However, this remains to be subject to the other unit holders, as well as the Hart-Scott-Rodino Antitrust Improvements Act, 1976.
The approval as well as the closing conditions is necessary part of the process for the company to indicate the completion of the transaction.
Eagle Rock Energy Partners, L.P.(NASDAQ:EROC) holds sway in the natural gas industry given the wide spread of activities and businesses the company is thus far engaged in. The first of these is the midstream business, second the upstream business.
Both of these lines allow Eagle Rock Energy Partners, L.P.(NASDAQ:EROC) to offer services which include gathering, treating as well as processing and transporting of natural gas. Another division of the upstream business line is developing as well as exploiting hydrocarbons, which are present in oil as well as natural gas properties.