Pipeline operator Crestwood to acquire control of Inergy

Mon May 6, 2013 7:27am EDT

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May 6 (Reuters) - Pipeline operator Crestwood Midstream Partners LP will acquire control of Inergy LP to form an entity with an enterprise value of about $7 billion, the companies said.

The merger will be implemented through a series of transactions, and Crestwood's Chief Executive Robert Phillips, will lead the combined company, the companies said in a statement.