Energy Transfer Plans $5.3B Sunoco Takeover

Law360, New York (April 30, 2012, 1:17 PM EDT) -- Sunoco Inc. agreed to takeover terms worth $5.3 billion with Texas-based pipeline operator Energy Transfer Partners LP, which will swallow up the refined products and retail gas giant to redouble geographically and diversify its offerings, ETP said Monday.

In the transaction, ETP would absorb Sunoco's premier natural gas transportation and logistics business, as well as its branded retail operation that includes 4,900 stores nationwide, ETP said.

The cash-and-stock deal values Sunoco shares at $50.13 each, a 29 percent premium over the 20-day average closing price leading...
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