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Texas pipeline firm buys Sunoco

Philly.com -- Sunoco Inc, the 126-year-old Philadelphia oil company that is in the process of exiting the refining business, is being acquired for $5.3 billion by Energy Transfer Partners, L.P. , a Dallas pipeline company.

The two companies announced Monday they had entered into a definitive merger agreement in which ETP will acquire Sunoco for a combination of cash and stock for about $50.13 a share, or 29 percent premium above Sunoco’s aver closing price for the last 20 days.

Sunoco,which has 4,900 retail fuel outlets, and its pipeline affiliate, Sunoco Logistics Partners L.P. will maintain their headquarters in the Philadelphia area. ETP will own Sunoco’s general partner interest in Sunoco Logistics as well as Sunoco’s 32.4 percent interest in Sunoco Logistics’ partnership units.

Under the merger

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Submitted Apr 30, 2012 By: Cakes77

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Cakes77 Champion Author Harrisburg Posts:5,161 Points:1,652,745 Joined:Aug 2006	Message Posted: May 1, 2012 1:34:39 PM Ignore Cakes77 Report Abuse Thanks for your nice comments folks on this article. Keep them coming!
remay Champion Author Houston Posts:6,963 Points:2,117,390 Joined:May 2006	Message Posted: May 1, 2012 10:20:01 AM Ignore remay Report Abuse Hope that translates to cheaper pump prices
jrs4125 Champion Author Indiana Posts:2,758 Points:591,745 Joined:Sep 2011	Message Posted: May 1, 2012 8:05:51 AM Ignore jrs4125 Report Abuse Dooooh
kag2010 Champion Author Winnipeg Posts:5,254 Points:1,019,760 Joined:Apr 2010	Message Posted: Apr 30, 2012 4:13:06 PM Ignore kag2010 Report Abuse ok!!!!
Sneakers55 Champion Author Houston Posts:51,298 Points:2,143,175 Joined:Nov 2005	Message Posted: Apr 30, 2012 3:45:39 PM Ignore Sneakers55 Report Abuse Midstream (the pipeline business) is one of the more remunerative parts of Big Oil. You're pretty much a cost-plus operation with steady demand, and there are a lot of barriers to entry.
bills299 Champion Author Atlanta Posts:3,366 Points:904,490 Joined:May 2005	Message Posted: Apr 30, 2012 1:58:23 PM Ignore bills299 Report Abuse Maybe this will help gas prices come down! It's like one stop shopping!!
Cothrom Champion Author South Carolina Posts:1,756 Points:725,580 Joined:Sep 2005	Message Posted: Apr 30, 2012 1:30:53 PM Ignore Cothrom Report Abuse wow! Looks like quite a big buy! And an actual good one
gbs1 Champion Author Minnesota Posts:1,996 Points:742,225 Joined:Mar 2011	Message Posted: Apr 30, 2012 1:10:14 PM Ignore gbs1 Report Abuse It seems to be a logical business deal.
tnfran Champion Author Arizona Posts:4,378 Points:842,190 Joined:Dec 2010	Message Posted: Apr 30, 2012 1:05:36 PM Ignore tnfran Report Abuse Sounds good so far - hope it'll help with some of the pricing.
mladha All-Star Author Ontario Posts:903 Points:314,310 Joined:Mar 2010	Message Posted: Apr 30, 2012 12:58:46 PM Ignore mladha Report Abuse Hope it is a good investment for ETP!
kosciak Champion Author Hartford Posts:1,106 Points:534,275 Joined:Aug 2011	Message Posted: Apr 30, 2012 12:58:29 PM Ignore kosciak Report Abuse ok
Yooperheart Champion Author Michigan Posts:3,415 Points:527,025 Joined:Feb 2010	Message Posted: Apr 30, 2012 12:57:55 PM Ignore Yooperheart Report Abuse Uhh o chon-go The spread of this disease will continue at a rapid pace.
qwerty17 Champion Author New Jersey Posts:3,650 Points:1,117,525 Joined:Oct 2009	Message Posted: Apr 30, 2012 12:38:00 PM Ignore qwerty17 Report Abuse now we know why they've been selling off refineries...to look more profitable.
Dphillips720 Champion Author Michigan Posts:1,407 Points:531,200 Joined:Mar 2011	Message Posted: Apr 30, 2012 12:36:41 PM Ignore Dphillips720 Report Abuse ok
djwhit Champion Author Ohio Posts:3,007 Points:1,207,480 Joined:Jul 2009	Message Posted: Apr 30, 2012 12:22:48 PM Ignore djwhit Report Abuse THATS GOOD GET IT DONE.......
doeslayersr Champion Author Illinois Posts:9,116 Points:872,005 Joined:Dec 2010	Message Posted: Apr 30, 2012 12:14:24 PM Ignore doeslayersr Report Abuse Good. Better than an overseas concern or the eco left buying it.