Energy Transfer Partners, $ETP, Will Buy Sunoco, $SUN, for $5.3 Billion

“Energy Transfer Partners LP (ETP) agreed to buy Sunoco Inc. (SUN), a pipeline and gasoline station owner, for $5.3 billion in shares and cash to add oil terminals and transportation assets.

Energy Transfer, a Dallas-based natural-gas pipeline owner, will pay $25 in cash and 0.5245 shares for each Sunoco share, giving Sunoco investors $50.13 a share, according to a statement today. Energy Transfer is paying a 23 percent premium above the April 27 closing price for Sunoco. That’s less than the 48 percent average premium of 97 deals in the pipeline sector in North America in the past 12 months, according to data compiled by Bloomberg….”

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