Boardwalk To Acquire Spire Marketing For $215 Mln

Boardwalk Pipelines agreed to acquire Spire Marketing Inc., Spire Inc.'s gas marketing unit, for $215 million in cash. The acquisition expands Boardwalk's gas marketing capabilities and customer book, likely modestly diversifying and increasing fee-based revenue. The deal is strategic but not transformative and should have a limited near-term impact on the buyer's overall financial profile.

Analysis

Boardwalk Pipelines agreed to acquire Spire Marketing Inc., Spire Inc.'s gas marketing unit, for $215 million in cash. The acquisition expands Boardwalk's gas marketing capabilities and customer book, likely modestly diversifying and increasing fee-based revenue. The deal is strategic but not transformative and should have a limited near-term impact on the buyer's overall financial profile.