Notable Mergers and Acquisitions of the Day 06/05: (RRMS)/(CHK) (WPC)/(SJM) (PPG)
* Rose Rock Midstream, L.P. (NYSE: RRMS) announced that it has executed a definitive agreement to acquire crude oil trucking assets from a subsidiary of Chesapeake Energy Corporation (NYSE: CHK). The transaction is expected to close during the second quarter of 2014 and is subject to customary closing conditions.
- Includes 124 trucks, 122 trailers and miscellaneous equipment operating in Texas, Oklahoma and Ohio;
- Approximately 200 employees; and
- Term transportation agreement at market rates with Chesapeake Energy Marketing, Inc., a wholly owned subsidiary of Chesapeake
Following the close of the acquisition, Rose Rock will operate a fleet of more than 250 trucks