Diane Alter – AHN News Reporter
Houston, TX, United States (AHN) – Dallas based Energy Transfer Partners LP, announced Monday it was buying Sunoco Inc for $5.3 billion. Under the terms of the deal, Sunocoshareholders will receive about $50.13 a share: $25 in cash and 0.5246 common units of Energy Transfer. Energy Transfer is paying a 23 percent premium over Sunoco’s closing prior prior to Monday’s announcement. The transaction will assist Energy Transfer Partners goal of diversifying the company’s pipeline network and the products it ships. The acquisition gives Energy Transfer Partners 4,900 Sunoco branded retail fueling station in the U.S., in addition to its 32.4 percent share of Sunoco Logistics Partners LP’s common units, enabling [...] Continue Reading…