Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Wednesday, May 2, 2012

Energy Transfer Partners to buy Sunoco Inc for $5.3 Billion

Energy Transfer Partners LP, the Dallas based Fortune 500 natural gas company which owns more than 17,500 miles of natural gas pipelines, has agreed to buy Sunoco Inc. for $5.3 billion; a deal that will add oil terminals and transportation assets to its portfolio. Darren Horowitz, an analyst at Raymond James & Associates Inc. in Houston, said that the takeover “opens the door for greater growth,” allowing Energy Transfer to meet its goal of diversifying both the extent of the company’s pipeline network and the products that…Read more...
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