Sunoco Declines On Agreement To Acquire NuStar In $7.1 Bln Deal

(RTTNews) - Shares of Sunoco LP (SUN) are sliding more than 3 percent on Monday morning trade after the company entered into a definitive agreement to acquire NuStar in an all-equity transaction valued at approximately $7.3 billion, including assumed debt.

NuStar common unitholders will receive 0.400 Sunoco common units for each NuStar common unit, implying a 24% premium based on the 30-day VWAP's of both NuStar and Sunoco as of January 19, 2024. Sunoco has secured a $1.6 billion 364-day bridge term loan to refinance NuStar's Series A, B and C Preferred Units, Subordinated Notes, Revolving Credit Facility, and Receivables Financing Agreement.

Currently, SUN shares are at $57.49, down 3.33 percent from the previous close of $59.46 on a volume of 840,543.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.