Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed acquisition of Energy Transfer Partners, L.P. (NYSE: ETP) by Sunoco Logistics Partners L.P. (NYSE: SXL). On November 21, 2016, the two companies announced the signing of a definitive merger agreement pursuant to which Sunoco Logistics will acquire Energy Transfer. Under the terms of the agreement, Energy Transfer unitholders will receive 1.5 common units of Sunoco Logistics for each common unit of Energy Transfer with an equivalent value of $39.29.

View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/energy-transfer-partners-l-p

Is the Proposed Acquisition Best for Energy Transfer and Its Unitholders?

Robbins Arroyo LLP's investigation focuses on whether the board of directors at Energy Transfer is undertaking a fair process to obtain maximum value and adequately compensate its unitholders.

As an initial matter, the $39.29 merger consideration represents a discounted premium of -0.20% based on Energy Transfer's closing price on November 18, 2016. This premium is significantly below the average one day premium of nearly 10.87% for comparable transactions within the past year. Further, the $39.29 merger consideration is significantly below the target prices set by seventeen analyst firms prior to the deal announcement, including the target price of $55.00 set by an analyst at Tudor Pickering & Co. on April 19, 2016; the target price of $50.00 set by an analyst at Credit Suisse on November 14, 2016; and the target price of $50.00 set by an analyst at Stephens Inc. on September 28, 2016. In the last three years, Energy Transfer traded as high as $69.66 on November 18, 2014, and most recently traded above the merger consideration – at $40.36 – on September 9, 2016.

Energy Transfer unitholders have the option to file a class action lawsuit to ensure the board of directors obtains the best possible price for unitholders and the disclosure of material information. Energy Transfer unitholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at 800-350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The law firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

Robbins Arroyo LLPDarnell R. Donahueddonahue@robbinsarroyo.com619-525-3990 or Toll Free 800-350-6003www.robbinsarroyo.com

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