Following its close, NuStar common unitholders will receive 0.4% of a Sunoco common unit for each NuStar unit held, as well as Sunoco’s distributions for first-quarter 2024. (Source: Shutterstock)
NuStar Energy LP unitholders approved the liquids terminal and pipeline operator’s merger with Energy Transfer’s Sunoco LP on May 1 in a special meeting, according to a press release.
NuStar Energy will merge with and into a merger subsidiary of Sunoco.
Approximately 69% of NuStar’s outstanding common unitholders voted in favor of the transaction. The final result of the special meeting will be disclosed in a filing with the U.S. Securities and Exchange Commission.
In early April, the pending merger cleared a U.S. Federal Trade Commission regulatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, paving the way for the rest of the transaction’s completion.
RELATED
Sunoco’s $7B Acquisition of NuStar Evades Further FTC Scrutiny
The transaction is expected to close on or about May 3, subject to customary closing conditions. Following its close, NuStar common unitholders will receive 0.4% of a Sunoco common unit for each NuStar unit held, as well as Sunoco’s distributions for first-quarter 2024.
Recommended Reading
US Energy M&A Shifts Gassier into Appalachia, Midcon as Oil Slips
2025-05-12 - U.S. upstream M&A activity reached $2.3 billion in April, defying a sharp 12% collapse in oil prices. Natural gas-driven deals led the way, including EQT’s $1.8 billion Olympus Energy acquisition.
Riley Permian Buys Northwest Shelf E&P Silverback II for $142MM
2025-05-08 - Riley Exploration Permian Inc. is adding Northwest Shelf assets from EnCap-backed Silverback Exploration II. Riley is also cutting capex and focusing on preserving inventory amid weak oil prices.
Permian Resources Buys Apache's Northern Delaware Assets for $608MM
2025-05-07 - Permian Resources is expanding its New Mexico footprint with an acquisition of Permian Basin assets from APA Corp. for $608 million.
Ground Game Report: Prairie, Amplify Find A&D in Down Market
2025-07-02 - Amid a slowdown in headline-grabbing oil and gas M&A, Prairie Operating and Amplify Energy are staying busy with small-ball acquisitions and timely divestitures.
Reports: Mitsubishi Targeting Haynesville E&P Aethon in $8B Deal
2025-06-16 - Japan’s Mitsubishi is reportedly in talks to acquire Aethon Energy’s Haynesville assets in a deal that could be worth $8 billion.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.