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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
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Texas pipeline firm buys Sunoco Back to Topics
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Cakes77
Champion Author Harrisburg

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Message Posted: May 1, 2012 1:34:39 PM

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

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Message Posted: May 1, 2012 10:20:01 AM

Hope that translates to cheaper pump prices
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jrs4125
Champion Author Indiana

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Message Posted: May 1, 2012 8:05:51 AM

Dooooh
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kag2010
Champion Author Winnipeg

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Message Posted: Apr 30, 2012 4:13:06 PM

ok!!!!
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Sneakers55
Champion Author Houston

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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.
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bills299
Champion Author Atlanta

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Message Posted: Apr 30, 2012 1:58:23 PM

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

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Message Posted: Apr 30, 2012 1:30:53 PM

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

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Message Posted: Apr 30, 2012 1:10:14 PM

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

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Message Posted: Apr 30, 2012 1:05:36 PM

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

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Message Posted: Apr 30, 2012 12:58:46 PM

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

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Message Posted: Apr 30, 2012 12:58:29 PM

ok
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Yooperheart
Champion Author Michigan

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Message Posted: Apr 30, 2012 12:57:55 PM

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

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Message Posted: Apr 30, 2012 12:38:00 PM

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

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Message Posted: Apr 30, 2012 12:36:41 PM

ok
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djwhit
Champion Author Ohio

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Message Posted: Apr 30, 2012 12:22:48 PM

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

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Message Posted: Apr 30, 2012 12:14:24 PM

Good. Better than an overseas concern or the eco left buying it.
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