Agreement and Plan of Merger (2019)Full Document 

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AGREEMENT AND PLAN OF MERGER

by and among

UGI CORPORATION,

AMERIGAS PROPANE, INC.,

AMERIGAS PROPANE HOLDINGS, INC.,

AMERIGAS PROPANE HOLDINGS, LLC

and

AMERIGAS PARTNERS, L.P.

April 1, 2019


TABLE OF CONTENTS

Page

ARTICLE I DEFINED TERMS; CONSTRUCTION

2

Section 1.1

Definitions

2

Section 1.2

Interpretation

12

ARTICLE II THE MERGER

14

Section 2.1

The Merger and Surviving Entity

14

Section 2.2

Closing

14

Section 2.3

Effective Time

14

Section 2.4

Effects of the Merger

14

Section 2.5

Organizational Documents of the Surviving Entity

14

Section 2.6

Admission as Partner

14

ARTICLE III MERGER CONSIDERATION; EXCHANGE PROCEDURES

15

Section 3.1

Merger Consideration

15

Section 3.2

Rights As Partnership Unitholders; Common Unit Transfers

16

Section 3.3

Exchange of Certificates and Book-Entry Units

17

Section 3.4

Election Procedures

20

Section 3.5

No Dissenters’ Rights

21

Section 3.6

Proration

22

Section 3.7

Anti-Dilution Provisions

23

Section 3.8

Treatment of Partnership LTIP Awards

23

ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE PARTNERSHIP AND THE GENERAL PARTNER

26

Section 4.1

Organization, Standing and Power

26

Section 4.2

Capitalization

27

Section 4.3

Authority; Noncontravention; Voting Requirements

28

Section 4.4

Governmental Approvals

30

Section 4.5

Partnership SEC Documents; Undisclosed Liabilities; Internal Controls

30

Section 4.6

Absence of Certain Changes or Events

32

Section 4.7

Legal Proceedings

32

Section 4.8

Compliance With Laws; Permits

32

Section 4.9

Information Supplied

33

Section 4.10

Contracts

34

Section 4.11

Partnership Benefit Plans; Labor Matters

34

Section 4.12

Environmental Matters

36

Section 4.13

Property

36

Section 4.14

Intellectual Property

37

Section 4.15

Opinion of Financial Advisor

37

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Section 4.16

Brokers and Other Advisors

37

Section 4.17

Insurance

37

Section 4.18

Investment Company Act

37

Section 4.19

No Other Representations or Warranties

38

ARTICLE V REPRESENTATIONS AND WARRANTIES OF PARENT, HOLDINGS AND MERGER SUB

38

Section 5.1

Organization, Standing and Power

38

Section 5.2

Capitalization

39

Section 5.3

Authority; Noncontravention; Voting Requirements

40

Section 5.4

Governmental Approvals

41

Section 5.5

Parent SEC Documents; Undisclosed Liabilities; Internal Controls

42

Section 5.6

Absence of Certain Changes or Events

43

Section 5.7

Legal Proceedings

43

Section 5.8

Compliance With Laws; Permits

44

Section 5.9

Information Supplied

45

Section 5.10

Tax Matters

45

Section 5.11

Contracts

46

Section 5.12

Parent Benefit Plans; Labor Matters

46

Section 5.13

Environmental Matters

47

Section 5.14

Property

47

Section 5.15

Intellectual Property

48

Section 5.16

Brokers and Other Advisors

48

Section 5.17

Insurance

48

Section 5.18

Investment Company Act

49

Section 5.19

Ownership of Common Units

49

Section 5.20

No Other Representations or Warranties

49

ARTICLE VI ADDITIONAL COVENANTS AND AGREEMENTS

49

Section 6.1

Preparation of the Registration Statement, the Proxy Statement and Schedule 13E-3; Partnership Unitholder Meeting

49

Section 6.2

Conduct of Business

51

Section 6.3

No Solicitation; Partnership Adverse Recommendation Change

54

Section 6.4

Reasonable Best Efforts

58

Section 6.5

Public Announcements

58

Section 6.6

Access to Information

58

Section 6.7

Indemnification and Insurance

59

Section 6.8