Janney Montgomery Scott Upgrades Susser Petroleum Partners LP (SUSP) to Buy

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Energy Transfer (ETP) to Acquire Susser (SUSS) in $1.8B Deal

April 28, 2014 7:03 AM EDT

Energy Transfer Partners, L.P. (NYSE: ETP) announced that it has entered into a definitive merger agreement whereby ETP plans to acquire Susser Holdings Corporation (NYSE: SUSS) in a unit and cash transaction valued at a total consideration of approximately $1.8 billion. By acquiring Susser Holdings, ETP will own the general partner (GP) interest and the incentive distribution rights (IDRs) in Susser Petroleum Partners LP (NYSE: SUSP), approximately 11 million SUSP common units (representing approximately 50.2 % of SUSPs outstanding units), and SUSS existing retail operations, consisting... More