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.
To contact the editor responsible for this story: JoAnne Norton at jnorton@bloomberg.net
Energy Transfer Partners to Buy Sunoco $5.3 Bln Transaction
Mike Mergen/Bloomberg
Sunoco, an owner of oil refineries since 1895, said last year it would sell and shut its last two plants because they were losing money.
Sunoco, an owner of oil refineries since 1895, said last year it would sell and shut its last two plants because they were losing money. Photographer: Mike Mergen/Bloomberg
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