Deal snapshot: SUNOCO LOGISTICS TO ACQUIRE TEXAS MIDSTREAM NG FIRM ENERGY TRANSFER PARTNERS.

MANews-(C)2009-2016

Pennsylvania-based oil transporter Sunoco Logistics Partners L.P. (NYSE: SXL) has agreed to acquire master limited partnership Texas-based natural gas midstream Energy Transfer Partners, L.P. (NYSE: ETP) via merger in a unit-for-unit transaction, the company said.

The transaction was approved by the boards of directors and conflicts committees of both partnerships and is expected to close in 1Q17, subject to receipt of ETP unitholder approval and other customary closing conditions. Under the terms of the transaction, ETP unitholders will receive 1.5 common units of SXL for each common unit of ETP they own. This equates to a 10% premium to the volume weighted average pricing of ETP's common units for the...

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