Koch to Buy PetroLogistics for $2.1 Billion

[xchrom]

http://www.bloomberg.com/news/2014-05-28/koch-unit-agrees-to-acquire-petrologistics-for-2-1-billion.html

Koch Industries Inc., the industrial conglomerate controlled by billionaire brothersCharles and David Koch, agreed to buy PetroLogistics LP (PDH) for $2.1 billion including debt to add the world’s largest propylene production plant.

Koch’s Flint Hills Resources LLC unit will pay $12 a share for the stock held by private-equity firm Lindsay Goldberg LLC, York Capital Management, PetroLogistics’s chairman and its chief executive officer. The rest of the shares will be purchased for $14 apiece, PetroLogistics and Flint said in a joint statement today.

PetroLogistics uses propane, a natural gas liquid, to make propylene, a raw material used to produce plastics. The company is the only independent dedicated propylene producer in the U.S., according to its website. The company owns and operates the world’s largest propane dehydrogenation facility, based on production capacity, on the Houston Ship Channel.

Koch, based in Wichita, Kansas, operates 670,000 barrels a day of crude-oil processing capacity in Minnesota, Texas and Alaska through Flint Hills.

[Timez Squarez]

1. I hope Koch goes broke after the elections

and find themselves in serious trouble in terms of financials and realize that instead of damaging the country, they should be helping the country.

Thanks to his dad and Birch Society, they are corrupt and needs to be sent a message saying that the people of the United States won't tolerate their own shit.

[Demeter]

2. So, THAT'S what is the matter with Kansas!

They have a cancer/black hole in their midst.