03:38 PM EDT, 03/11/2025 (MT Newswires) -- Martin Midstream Partners ( MMLP ) was higher more than 3% on Tuesday, after activist investor Caspian Capital said is ending its bid to acquire the petroleum terminal and storage company.

Caspian previously led investor opposition to Martin Midstream's ( MMLP ) proposed acquisition by Martin Resource Management, the company's general partner, arguing the $4.02-per-unit buyout offer significantly undervalued Martin Midstream ( MMLP ).

The companies ended their merger efforts on Dec. 26.

Together with Nut Tree Capital Management, Caspian had made a run at acquiring Martin Midstream ( MMLP ), offering $4.50 per unit in July.

Caspian said Tuesday it was satisfied with Martin Midstream's ( MMLP ) effort to increase investor value as a stand-alone company.

Price: 3.75, Change: +0.12, Percent Change: +3.31