Energy Transfer Partners to Buy Sunoco in $5.3 Bln Transaction
Energy Transfer Partners LP (ETP) agreed to buy Sunoco Inc. (SUN) for about $5.3 billion in units and cash, expanding ETP’s geographic reach and strengthening its presence in the transportation, storage and logistics of oil and gas.
The offer of $25 a share in cash and 0.56245 unit is valued at $50.13 per share, based on ETP’s closing price April 27.
ETP in March completed its $5.4 billion purchase of pipeline operator Southern Union Co.
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