Why Units of CNX Midstream Partners Are Skyrocketing Today
Units of CNX Midstream Partners (NYSE: CNXM) soared more than 29% by 10:15 a.m. EDT on Monday. Fueling the MLP's surge was a merger agreement with its parent, natural gas producer CNX Resources (NYSE: CNX). CNX Resources has agreed to acquire all the units of its MLP that it doesn't currently own in an all-stock deal valued at about $357 million.