Merger of Energy Transfer Partners and Sunoco Logistics Moves Ahead

A year after Energy Transfer Partners, L.P. ended a proposed $33 billion merger with Williams Cos. of Tulsa, the Dallas-based company is moving ahead on a merger with Sunoco Logistics Partners L.P.

The Williams Cos. merger, announced in 2015, turned into a legal mess and fight. But now the Securities and Exchange Commission has approved Sunoco’s Registration Statement and ETP has filed a definitive proxy statement with the SEC.

ETP’s asking for approval of a special meeting of its unitholders to vote on the merger.

The special meeting of Energy Transfer unitholders will be held April 26 at 10 a.m. in Dallas. All ETP common unitholders of record as of the close of business on Feb. 27, 2017 will be entitled to vote their common units at the special meeting. the approval of the proposed merger requires the affirmative vote of holders of at least a majority of the outstanding ETP common units.

 

 

The two companies expect the transaction to close in April.