On May 17, there were three big announcements that certain MLPs would be acquired by their parent companies structured as conventional corporations (C-corps). The Williams Cos. Inc. is acquiring its MLP, Williams Partners LP; Cheniere Energy Inc. is buying the remaining interest in Cheniere Energy Partners LP Holdings; and most notably—in a simplification transaction similar to Kinder Morgan Inc. in 2014—Enbridge Inc. is buying-in all its sponsored investment vehicles, including four MLPs.

Williams, Cheniere and Enbridge rank Nos. 6, 10 and 1, respectively, on the Midstream Business Midstream 50 list of the sector’s largest publicly held firms.