Enbridge Inc. is in advanced discussions to buy the Pony Express Pipeline from Tallgrass Energy, which is owned by Blackstone Inc., for about $2 billion, according to people familiar with the situation cited by Bloomberg News.
Those sources said an announcement on the proposed transaction could arrive within days. The individuals spoke on the condition of anonymity because the information has not been made public.
At the same time, the sources cautioned that the talks are not complete - no final agreement has been reached and the discussions could fall apart or the timeline for any deal could change.
Requests for comment sent to representatives of Enbridge, Blackstone and Tallgrass did not receive an immediate response, the sources said.
Context and implications
The reporting centers on a potential sale of the Pony Express Pipeline, a major U.S. crude oil line currently held by Tallgrass Energy, which is part of Blackstone's holdings. The price discussed in the reports is approximately $2 billion and Enbridge is the purchaser named in the accounts.
The description of the situation emphasizes two elements repeated by the sources: the possibility of a near-term announcement and the contingency that negotiations may yet fail or be rescheduled.
What is known - and what remains uncertain
- The identities of the parties involved are Enbridge Inc. as the prospective buyer and Tallgrass Energy, owned by Blackstone Inc., as the seller.
- The reported transaction value is approximately $2 billion.
- Insiders say an announcement could come within days, but no final agreement has been confirmed.
- Company representatives for Enbridge, Blackstone and Tallgrass did not immediately respond to requests for comment.
Because the information is based on people with knowledge of the talks who requested anonymity, the possibilities that talks could fail or that timing could change are explicitly highlighted in the reporting.