Article: Magellan Midstream bids on Longhorn Partners' assets.(Projects)(Longhorn Partners Pipeline L.P. to acquire Magellan Midstream Partners L.P.)(Brief article)

Magellan Midstream Partners, L.P. has placed the initial bid to acquire the assets of Longhorn Partners Pipeline L.P. Completion of the acquisition is subject to an auction process, bankruptcy court approval and customary regulatory approval.

The 700-mile common carrier pipeline system transports refined petroleum products from Houston to El Paso, TX. A terminal in El Paso, comprised of a 5-bay truck loading rack and over 900,000 barrels of storage, is included. The terminal serves local petroleum products ...

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