Western Midstream Partners Acquires Aris Water Solutions in $2.5 Billion Deal.

Western Midstream Partners and Aris Water Solutions announced the preliminary results of elections by Aris securityholders regarding the form of merger consideration for WES's acquisition of Aris. The election results showed that a significant majority of Aris securityholders chose to receive cash consideration, with approximately 90% electing for cash and 10% electing for WES common units. The acquisition is expected to be completed on October 9, 2025.

Western Midstream Partners, LP (WES) and Aris Water Solutions, Inc. (ARIS) announced preliminary results of elections by Aris securityholders regarding the form of merger consideration for WES's acquisition of ARIS. The election results showed that a significant majority of Aris securityholders chose to receive cash consideration, with approximately 90% electing for cash and 10% electing for WES common units. The acquisition is expected to be completed on October 9, 2025.

The preliminary election results indicate that holders of 9,589,105 shares of Aris Class A Common Stock and 4,289,350 Aris OpCo Stapled Units elected to receive the Common Unit Election Consideration. Holders of 1,901,249 shares of Aris Class A Common Stock and 9,304,608 Aris OpCo Stapled Units elected to receive the Mixed Election Consideration. Holders of 21,247,291 shares of Aris Class A Common Stock and 12,873,151 Aris OpCo Stapled Units elected to receive the Cash Election Consideration Western Midstream and Aris Water Solutions Announce Preliminary Results for Election of Form of Merger Consideration^[2].

The total estimated cash consideration for the merger is $415.0 million, with the cash consideration payable in connection with the cancellation and conversion of the Company RSUs and Company PSUs excluded. The preliminary results are subject to the completion of guaranteed delivery procedures, and final certified results are not expected until shortly before closing Western Midstream and Aris Water Solutions Announce Preliminary Results for Election of Form of Merger Consideration^[2].

Western Midstream Partners is a master limited partnership engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural-gas liquids, and crude oil; and gathering and disposing of produced water for its customers. The acquisition of Aris Water Solutions aims to expand WES's capabilities in water treatment and beneficial reuse projects, signaling potential diversification of revenue streams and enhanced overall earnings Western Midstream and Aris Water Solutions Announce Preliminary Results for Election of Form of Merger Consideration^[2].

The acquisition is subject to regulatory approvals and other closing conditions. Investors are advised to closely monitor the progress of the transaction and review the definitive proxy statement and prospectus for detailed information Western Midstream and Aris Water Solutions Announce Preliminary Results for Election of Form of Merger Consideration^[2].