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URL:  http://boards.fool.com/two-mlps-crestwood-midstream-llc-cmlp-and-30730135.aspx

Subject:  Re: MLP merger Date:  6/11/2013  11:36 PM
Author:  Wradical Number:  118671 of 123001

Two MLPs, Crestwood Midstream LLC (CMLP) and Inergy LP (NRGY) are considering a merger.

The messy multiple events to complete the deal are covered on Page 3 & 4--
http://www.crestwoodlp.com/myviewer.aspx?pid=e796e5f0-95df-4......
Besides the larger operational entity potentially adding more states to the mix (and therefore,
potentially, more state tax filings), are there any additional tax gotchas with an event like
this?

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Maybe not. Mergers of MLPs, like mergers of corporations, can be, and usually are structured to be tax-free reorgs., but not always.

The deal isn't going to finally close until the 3rd quarter. In the meantime they're working on the regulatory clearances, one of which will be a private letter ruling from the IRS that it will be a tax-free deal. And if not, they'll get the wrinkles spelled out, so they can make it work, and probably will.

There's going