Sept 16 (Reuters) - Energy Transfer LP said on Monday it would buy oil and gas pipeline owner SemGroup Corp for $1.35 billion in cash and stock, to strengthen its crude oil transportation, terminalling and export operations.
The deal, which includes $6.80 in cash and 0.7275 shares of Energy Transfer for each outstanding share of SemGroup, represents a premium of 65.4% to SemGroup's Friday close.
Including SemGroup's debt, the enterprise value of the deal is $5 billion.
SemGroup shares surged 62.4% to $16.70 and Energy Transfer rose 2.2% to $14.33 in trading before the bell.
Reporting by Shradha Singh in Bengaluru; Editing by Shinjini Ganguli