Deals
Energy Transfer to Buy Sunoco to Add Oil, Gas Logistics
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Energy Transfer Partners LP, owner of about 23,500 miles of natural-gas pipelines, agreed to buy Sunoco Inc. for $5.3 billion, expanding its ability to ship higher margin oil and natural gas liquids.
Sunoco holders will receive about $50.13 a share, consisting of $25 in cash and 0.5245 common units of Energy Transfer, according to a joint statement today. Dallas-based Energy Transfer is paying a 23 percent premium above the April 27 closing price for Sunoco.