Dallas-based natural gas company Energy Transfer Partners and Sunoco are working with outside PR counsel on ETP's $5.3B acquisition of Sunoco announced April 30.
The $50.13 per share offer is a 29 percent premium on Sunoco’s average share price over a 20-day period through last week and was approved by Sunoco’s board.
ETP said the deal will expand its geographic footprint to the northeast and diversify its energy holdings with Philadelphia-based Sunoco’s focus on crude oil. It includes Sunoco Inc., the retail company, and Sunoco Logistics Partners, its pipeline, terminal and crude production operation which will remain publicly traded as a master limited partnership.
Mark Palmer, a Brunswick Group partner based in the firm’s Dallas/Fort Worth office, is handling media relations and counsel for ETP on the deal. Granado Communications Group of Dallas is also a PR advisor to ETP.
The deal is expected to close in the fourth quarter after shareholder and regulatory approval.
Tom Golembeski, manager of corporate communications for Sunoco, is speaking for his company regarding the acquisition. He said Sunoco worked with Sard Verbinnen & Co. on the deal.