Pipeline companies Sunoco Logistics Partners LP and Energy Transfer Partners (ETP), both of which are controlled by general partner Energy Transfer Equity LP, said on Monday they would combine in a corporate consolidation to cut borrowing and operating costs. Sunoco Logistics will buy Energy Transfer Partners in an all-stock deal valued at $19.93 billion US, creating the second-largest master limited partnership by enterprise value. ETP shareholders will get 1.5 Sunoco units for each ETP unit they own. As of Friday's close, that was about $39.29 US per unit, a slight discount to what ETP units were worth. Energy Transfer Equity walked away from its more than $20 billion US takeover of Williams Cos. Inc. earlier this year after months of lawsuits and heated arguments between the rival pipeline companies.

Source: CBC News November 21, 2016 19:33 UTC