Not Logged In Log In   Sign Up   Points Leaders
Follow Us    7:37 AM

GasBuddy News Article

22
votes
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


Read the Full Article

Submitted Apr 30, 2012 By: Cakes77
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Texas pipeline firm buys Sunoco Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
Cakes77
Champion Author Harrisburg

Posts:7,204
Points:2,233,885
Joined:Aug 2006
Message Posted: May 1, 2012 1:34:39 PM

Thanks for your nice comments folks on this article. Keep them coming!
Profile Pic
remay
Champion Author Houston

Posts:9,520
Points:2,760,140
Joined:May 2006
Message Posted: May 1, 2012 10:20:01 AM

Hope that translates to cheaper pump prices
Profile Pic
jrs4125
Champion Author Indiana

Posts:4,867
Points:1,229,270
Joined:Sep 2011
Message Posted: May 1, 2012 8:05:51 AM

Dooooh
Profile Pic
kag2010
Champion Author Winnipeg

Posts:7,670
Points:1,629,210
Joined:Apr 2010
Message Posted: Apr 30, 2012 4:13:06 PM

ok!!!!
Profile Pic
Sneakers55
Champion Author Houston

Posts:62,347
Points:2,709,630
Joined:Nov 2005
Message Posted: Apr 30, 2012 3:45:39 PM

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.
Profile Pic
bills299
Champion Author Atlanta

Posts:6,068
Points:1,552,635
Joined:May 2005
Message Posted: Apr 30, 2012 1:58:23 PM

Maybe this will help gas prices come down! It's like one stop shopping!!
Profile Pic
Cothrom
Champion Author South Carolina

Posts:3,783
Points:1,355,770
Joined:Sep 2005
Message Posted: Apr 30, 2012 1:30:53 PM

wow! Looks like quite a big buy! And an actual good one
Profile Pic
gbs1
Champion Author Minnesota

Posts:4,761
Points:1,395,950
Joined:Mar 2011
Message Posted: Apr 30, 2012 1:10:14 PM

It seems to be a logical business deal.
Profile Pic
tnfran
Champion Author Arizona

Posts:7,096
Points:1,480,115
Joined:Dec 2010
Message Posted: Apr 30, 2012 1:05:36 PM

Sounds good so far - hope it'll help with some of the pricing.
Profile Pic
mladha
All-Star Author Ontario

Posts:903
Points:314,310
Joined:Mar 2010
Message Posted: Apr 30, 2012 12:58:46 PM

Hope it is a good investment for ETP!
Profile Pic
kosciak
Champion Author Hartford

Posts:1,106
Points:956,075
Joined:Aug 2011
Message Posted: Apr 30, 2012 12:58:29 PM

ok
Profile Pic
Yooperheart
Champion Author Michigan

Posts:6,640
Points:1,180,275
Joined:Feb 2010
Message Posted: Apr 30, 2012 12:57:55 PM

Uhh o chon-go The spread of this disease will continue at a rapid pace.
Profile Pic
qwerty17
Champion Author New Jersey

Posts:5,958
Points:1,745,595
Joined:Oct 2009
Message Posted: Apr 30, 2012 12:38:00 PM

now we know why they've been selling off refineries...to look more profitable.
Profile Pic
Dphillips720
Champion Author Michigan

Posts:1,558
Points:983,435
Joined:Mar 2011
Message Posted: Apr 30, 2012 12:36:41 PM

ok
Profile Pic
djwhit
Champion Author Ohio

Posts:5,500
Points:1,846,730
Joined:Jul 2009
Message Posted: Apr 30, 2012 12:22:48 PM

THATS GOOD GET IT DONE.......
Profile Pic
doeslayersr
Champion Author Illinois

Posts:12,477
Points:1,524,905
Joined:Dec 2010
Message Posted: Apr 30, 2012 12:14:24 PM

Good. Better than an overseas concern or the eco left buying it.
Post a reply Back to Topics