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Energy Transfer Partners to Buy Sunoco in $5.3 Bln Transaction

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Energy Transfer Partners to Buy Sunoco $5.3 Bln
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

April 30 (Bloomberg) -- Energy Transfer Partners LP agreed to buy Sunoco Inc. 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.

Link to Statement:{NSN M3AF503V2800 <GO>}

Link to Company News:{ETE US <Equity> CN <GO>} Link to Company News:{ETP US <Equity> CN <GO>} Link to Company News:{SUN US <Equity> CN <GO>} Link to Company News:{SXL US <Equity> CN <GO>}

To contact the editor responsible for this story: JoAnne Norton at jnorton@bloomberg.net

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