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GasBuddy News Article

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Energy Transfer Partners buys Sunoco for $5.3 billion

GasBuddy Blog -- Energy Transfer Partners, a Dallas-based energy and pipeline company, has bought Sunoco, the 126-year old Philadelphia oil company, for $5.3 billion, the Philadelphia Inquirer is reporting today.

Sunoco's 4,900 retail fuel outlets will continue to operate under the Sunoco brand, and its pipeline affiliate, Sunoco Logistics Partners, will maintain its headquarters in Philadelphia. Under the merger agreement Sunoco continues, as planned, to exit the refining business.

With Energy Transfer Partners, Sunoco will also continue to pursue a proposed refinery joint venture between Sunoco and The Carlyle Group, a private equity manager, that could continue to operate Sunoco's Philly refinery, the largest refinery on the east...

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Submitted Apr 30, 2012 By: PD
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Author Topic: Energy Transfer Partners buys Sunoco for $5.3 billion Post a Reply Back to Topics
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bridgerunner
Champion Author Virginia

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Message Posted: May 1, 2012 1:14:43 PM
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That's a lot of money.
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NotTom
Champion Author New Hampshire

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Message Posted: May 1, 2012 1:11:29 PM
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OK
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CISA
Champion Author Orange County

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Message Posted: May 1, 2012 1:10:46 PM
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are refineries in a turnaround?
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SUPERQUACK
Champion Author Sacramento

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Message Posted: May 1, 2012 1:08:26 PM
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POCKET CHANGE.... EH
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LostToo
Champion Author Illinois

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Message Posted: May 1, 2012 1:07:27 PM
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Okay...
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Tekkie
Champion Author Philadelphia

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Message Posted: May 1, 2012 1:06:23 PM
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OKay!!!
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driver169
Champion Author New York

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Message Posted: May 1, 2012 1:05:36 PM
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hmmm on every news item? hmmm.
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HA4CNN
Champion Author Toronto

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Message Posted: May 1, 2012 1:05:34 PM
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Refining is a thin margin business.
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nozzle46
Champion Author Little Rock

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Message Posted: May 1, 2012 1:04:51 PM
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Curiouser and curiouser.
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NashGas
Champion Author Nashville

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Message Posted: May 1, 2012 1:04:40 PM
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Let's go Racing!
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stopforgas
All-Star Author Mississippi

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Message Posted: May 1, 2012 1:03:46 PM
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one bites the dust... or will when the dust settles
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wang91554
Champion Author San Jose

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Message Posted: May 1, 2012 12:59:01 PM
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nice chunk of change.
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soakmonkey
Champion Author Nevada

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Message Posted: May 1, 2012 12:57:01 PM
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hmm
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joeborge
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Message Posted: May 1, 2012 12:56:25 PM
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ok
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panda317
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Message Posted: May 1, 2012 12:56:20 PM
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ok
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gumbyrex
Champion Author Fresno

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Message Posted: May 1, 2012 12:54:34 PM
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This appears to be a calculate risk to improve bottom line through economy of scales. Or is it an asset raid?
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garyr86
Champion Author Michigan

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Message Posted: May 1, 2012 12:54:06 PM
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Why is Sunoco getting out of the refinery business. Gas prices going up and more refineries are having problems
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indrix
All-Star Author Toronto

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Message Posted: May 1, 2012 12:53:52 PM
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smaller animals being swallowed by bigger animals until it grows so big it bursts
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pecos
Champion Author Columbus

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Message Posted: May 1, 2012 12:53:29 PM
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Not sure about ETP... they were behind the last article about the dollar... sounds like The Carlyle Group is hedging there bets here to increase profits off of us.
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vtroger
Veteran Author Vermont

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Message Posted: May 1, 2012 12:53:21 PM
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Let's see what they can do.
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NoStrings
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Message Posted: May 1, 2012 12:50:53 PM
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ok
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amayne11
Champion Author Vancouver

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Message Posted: May 1, 2012 12:46:14 PM
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Deals like this usually involve a stock swap rather than an exchange of money, the bigger a corporation gets, the more it costs to run the corporation.
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straz
Champion Author Pennsylvania

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Message Posted: May 1, 2012 12:41:08 PM
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Somebody will be making more money
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bbthegun
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Message Posted: May 1, 2012 12:40:23 PM
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Don't know if this will turn out to be good or bad for prices.
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regasaz
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Yesterday's news.............
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ace12012
Champion Author Phoenix

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Message Posted: May 1, 2012 12:35:50 PM
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gas will probably go up.
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Red7002011
Champion Author Mississippi

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Message Posted: May 1, 2012 12:35:48 PM
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Really!
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ChristinaCricke
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OK
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oldiesman
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Message Posted: May 1, 2012 12:35:09 PM
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Another company is swallowed up?
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Lologogo
Champion Author Twin Cities

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Message Posted: May 1, 2012 12:33:55 PM
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Lots of companies buyng other companies for lots of money. Hmmm
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pliskin
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Message Posted: May 1, 2012 12:32:39 PM
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And this is significant why?
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mageetp
Champion Author British Columbia

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Message Posted: May 1, 2012 12:30:48 PM
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Commented yesterday.
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1heatguy
Veteran Author Wisconsin

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Message Posted: May 1, 2012 12:30:45 PM
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Will see what all happens.
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BrucePen
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Message Posted: May 1, 2012 12:30:09 PM
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Big fish swallowing big fish.
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ramgas
Champion Author Texas

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Message Posted: May 1, 2012 12:28:58 PM
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What should this mean for pump prices? Nothing?
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julius1st4
Champion Author Ontario

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Message Posted: May 1, 2012 12:28:17 PM
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Sunoco entered into an agreement with Petro-Canada about 1 1/2 years ago and all the "Sunoco" gas stations were rebadged to Petro-Canada.
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kuma2000
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so?????
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tjc09f
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Ok
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DJRIO
Champion Author Miami

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Message Posted: May 1, 2012 12:26:13 PM
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guess Sunoco is getting out of nascar fuel bizz too!
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spmaudio
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Message Posted: May 1, 2012 12:24:59 PM
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A TX firm buying a PA firm...I wonder what sort of culture clashes will flare up as new management starts to displace old management!
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ultm8opie
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Message Posted: May 1, 2012 12:22:08 PM
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ok
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njerald
Champion Author Seattle

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Message Posted: May 1, 2012 12:20:19 PM
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Right on........oil going higher
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rbrowdersr
Champion Author Detroit

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Message Posted: May 1, 2012 12:18:04 PM
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Doesn't mean a thing.
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95Vette
Champion Author Missouri

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Message Posted: May 1, 2012 12:17:03 PM
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A lot of buying and selling going on in the Gasbuddy news today
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gem1224
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Message Posted: May 1, 2012 12:15:37 PM
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Ok
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ARCO
Champion Author Pittsburgh

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Message Posted: May 1, 2012 12:14:24 PM
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THIS SALE HAS NOTHING TO DO WITH THE PRICE OF GAS
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67yenko
Champion Author Mississippi

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Message Posted: May 1, 2012 12:14:08 PM
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5.3 billion... pocket change to Nobama's trillions in debt....
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matthwbar
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Message Posted: May 1, 2012 12:13:17 PM
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Interesting...
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BWALL2700
Champion Author Illinois

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It doesn't matter. Gas prices still to high.
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WebGabe
Champion Author Pennsylvania

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Message Posted: May 1, 2012 12:07:09 PM
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Ok.
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slvrdo_dsprdo
Champion Author Nashville

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Message Posted: May 1, 2012 12:06:29 PM
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Now they're too big to fail.
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nehemiah
Champion Author Portland

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Message Posted: May 1, 2012 12:06:18 PM
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short term solution
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