Permian Asset Buyer is Kelso & Company, page-11

I think the deal will happen. It's clear now that the offer is for cash, not for shares like the deal with Breitburn. The looming date for AZZG also seems to leave the company with little choice but to take the deal which is generous.

The history of two failed bids as well as activist shareholders that lie dormant for now should also weigh on JC's mind. If this deal falls through for whatever reason, shareholders would be far more willing to turf the whole board out.