Sunoco Logistics Closes Acquisition of Texas Midstream NG Firm Energy Transfer Partners.

M2 EQUITYBITES-May 1, 2017-Sunoco Logistics Closes Acquisition of Texas Midstream NG Firm Energy Transfer Partners

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1 May 2017 - Pennsylvania, US-based oil transporter Sunoco Logistics Partners L.P. (NYSE: SXL) has closed the acquisition of master limited partnership Texas, US-based natural gas midstream Energy Transfer Partners, L.P. (NYSE: ETP), the company said.

Last November, Sunoco Logistics Partners announced a deal to acquire Energy Transfer Partners via merger in a unit-for-unit transaction.

Under the terms of the transaction, ETP unitholders received 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 last 30 trading days immediately prior to the announcement of the transaction.

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