INTRODUCTION
This Rule 13E-3 Transaction Statement on Schedule 13E-3 (this
Transaction Statement), together with the exhibits hereto, is being filed with the Securities and Exchange Commission (the SEC) pursuant to Section 13(e) of the Securities Exchange Act of 1934, as amended (the
Exchange Act), by (i) Tallgrass Energy, LP, a Delaware limited partnership (TGE) and the issuer of the Class A shares representing limited partner interests in TGE (the Class A shares) that are
subject to the Rule 13E-3 transaction; (ii) Tallgrass Energy GP, LLC, a Delaware limited liability company and the general partner of TGE (TGE GP); (iii) Prairie Private Acquiror LP, a
Delaware limited partnership (Buyer); (iv) Prairie Merger Sub LLC, a Delaware limited liability company (Buyer Sub); (v) Prairie Non-ECI Acquiror LP, a Delaware limited partnership;
(vi) Prairie ECI Acquiror LP, a Delaware limited partnership; (vii) Prairie VCOC Acquiror, a Delaware limited partnership; (viii) Prairie Secondary Acquiror LP, a Delaware limited partnership; (ix) Prairie Secondary Acquiror E
LP, a Delaware limited partnership ((v) through (ix) collectively, the Sponsors); and (x) Prairie GP Acquiror LLC, a Delaware limited liability company (Blackstone GP Acquiror). Collectively, the persons filing this
Transaction Statement are referred to as the filing persons.
This Transaction Statement relates to the Agreement and Plan of
Merger, dated as of December 16, 2019 (the Merger Agreement), by and among TGE, TGE GP, Buyer and Buyer Sub. Pursuant to the Merger Agreement, and subject to the satisfaction or waiver of certain conditions therein, Buyer will merge
with and into TGE (the Merger), with TGE surviving the Merger and continuing to exist as a Delaware limited partnership. At the effective time of the Merger (the Effective Time), each Class A share issued and outstanding
as of immediately prior to the Effective Time, other than Class A shares and Class B shares representing limited partner interests in TGE (Class B shares) held immediately prior to the Effective Time by the Sponsors or
their respective permitted transferees under that certain Equityholders Agreement, by and among Jasmine Ventures Pte. Ltd., BIP Aggregator Q L.P., Blackstone Infrastructure Partners V L.P., Blackstone Infrastructure Associates L.P., Enagas
Holding USA, S.L.U, Enagas U.S.A. LLC, BIP Holdings Manager L.L.C., BIP Prairie E L.P., BIP Prairie E Manager L.L.C., Prairie Non-ECI Aggregator LP, Prairie Non-ECI
Acquiror Holdco LP, Prairie Non-ECI Acquiror LP, Prairie ECI Aggregator LP, Prairie ECI Acquiror Holdco LP, Prairie ECI Acquiror LP, Prairie VCOC Aggregator LP, Prairie VCOC Acquiror Holdco LP, Prairie VCOC
Acquiror LP, Prairie Secondary Acquiror LP and Blackstone GP Acquiror, dated as of March 11, 2019 (such shares, the Sponsor Shares), will be converted into the right to receive $22.45 in cash, to be paid without interest (the
Merger Consideration). As of the Effective Time, all of the Class A shares converted into the right to receive the Merger Consideration will no longer be outstanding and will automatically be cancelled and cease to exist. The
Sponsor Shares, Class B shares and units representing limited liability company interests in Tallgrass Equity, LLC, a Delaware limited lability company, issued and outstanding immediately prior to the Effective Time will be unaffected by the
Merger and will be unchanged and remain outstanding following the Effective Time. Except to the extent expressly set forth set forth in any award of equity participation shares issued under the Tallgrass MLP GP, LLC or TGE GP long-term incentive
plans (such shares, the TGE EPSs and such plans, the TGE LTIPs) granted after the date of the Merger Agreement, immediately prior to the Effective Time, each award of TGE EPSs outstanding will continue to remain outstanding,
subject to the terms and conditions (including with respect to vesting and forfeiture) applicable to such award immediately prior to the Effective Time, provided that any performance-based vesting conditions will be waived as of the Effective Time.
Notwithstanding anything in the TGE LTIPs or the applicable award agreement, and except to the extent otherwise expressly set forth in any award of TGE EPSs granted after the date of the Merger Agreement, each award of TGE EPSs will be settled at
the time provided in the applicable award agreement in an amount of cash per TGE EPS equal to the fair market value (as defined in the applicable TGE LTIP) of a Class A share on the date of settlement. In addition, TGE has agreed in the Merger
Agreement not to pay any distributions with respect of its Class A shares during the pendency of the transactions contemplated by the Merger Agreement, in each case, without the prior written consent of Buyer. The Merger is subject to certain
closing conditions, including approval by the holders of Class A shares and Class B shares (TGE Shareholders) representing a majority of the issued and outstanding Class A shares and Class B shares, voting as a single
class, of the Merger Agreement at a special meeting of TGE Shareholders.
The conflicts committee of the TGE GP Board (the Conflicts
Committee), consisting of three independent directors, has unanimously determined, based upon the facts and circumstances it deemed relevant and appropriate, that the Merger Agreement and the transactions contemplated thereby, including the
Merger, are in the best interests of TGE and the TGE Shareholders other than TGE GP and its affiliates, including Buyer, Buyer Sub, the Sponsors and their respective affiliates (the TGE Unaffiliated Shareholders) and has approved the
Merger Agreement and the transactions contemplated thereby, including the Merger, such approval constituting Special Approval pursuant to
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