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NEW YORK (AP) - TransMontaigne Inc., an oil and gas distributor that last week received a takeover bid from Morgan Stanley Inc., on Monday said it has accepted a competing offer from privately held SemGroup LP.
Denver-based TransMontaigne said it agreed to be bought by Tulsa, Okla.-based SemGroup for $9.75 per share in cash. Morgan Stanley — which owns 10 percent of TransMontaigne — said in a regulatory filing on Wednesday it offered to buy the company for $8.50 per share, or about $379 million.
Shares of TransMontaigne spiked 94 cents, or 10.4 percent, to $10 in aftermarket electronic trading on the Inet. The stock had closed lower by 20 cents, or 2.1 percent, at $9.06 on the New York Stock Exchange.
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