2024-01-25 10:04:51 ET
Summary
- Sunoco announces acquisition of NuStar Energy in a $7.3 billion all-equity deal, causing Sunoco's shares to drop and NuStar Energy's shares to rise.
- The deal involves NuStar Energy shareholders receiving 0.400 of a share of Sunoco stock for each share they own.
- The integration of the two companies is expected to result in $150 million worth of synergies and $50 million in annual savings from refinancing and paying off existing securities.
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A Fair Deal Between Sunoco And NuStar Energy