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Stock Market & Financial Investment News

News Breaks
June 18, 2012
08:19 EDTSXL, ETP, SUN, ETE, SUGETE to drop down Southern Union assets into ETP-controlled entity
Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP) announced that ETE plans to drop down its interest in Southern Union Company (SUG) into an ETP-controlled entity, which will also include assets to be acquired in the recently announced merger between Sunoco (SUN) and ETP. Concurrent with the closing of the Sunoco merger, ETE will contribute its interest in SUG into an ETP-controlled entity in exchange for a 60% equity interest in the new entity, to be called ETP Holdco Corporation. In conjunction with ETE’s contribution, ETP will contribute its interest in Sunoco to HoldCo and will retain a 40% equity interest in HoldCo. Prior to the contribution of Sunoco to HoldCo, Sunoco’s interests in Sunoco Logistics Partners (SXL) will be transferred to ETP. The transaction has been approved by the boards of directors of ETE’s general partner and ETP’s general partner and will not require the approval of Sunoco’s board. In addition, Energy Transfer has reviewed its plans with all three credit rating agencies and believes that the new structure enhances the overall credit profile of ETE, ETP and SUG and furthers ETP’s commitment to maintaining investment grade credit ratings. The transaction will not require ETE or ETP unitholder approval and no regulatory issues are expected.
News For ETE;ETP;SUG;SUN;SXL From The Last 14 Days
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May 19, 2015
09:58 EDTSXL, SUN, ETE, ETPOn The Fly: Analyst Initiation Summary
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May 18, 2015
16:27 EDTSXLSunoco Logistics initiated with a Buy at Deutsche Bank
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16:26 EDTETPEnergy Transfer Partners initiated with a Buy at Deutsche Bank
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16:26 EDTETEEnergy Transfer Equity initiated with a Buy at Deutsche Bank
Target $95.
16:25 EDTSUNSunoco initiated with a Hold at Deutsche Bank
Target $51.
May 15, 2015
10:55 EDTETEJANA Partners gives quarterly update on stakes
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May 8, 2015
08:20 EDTSUNSunoco long-term opportunity remains intact, says Goldman
Goldman said Sunoco's Q1 miss is "transient" and reiterates its positive view as the company offers a growing 5.5% dividend. The firm said the conference call reinforced tis positive view given long-term targets were reiterated, potential acquisition opportunities and recent acquisitions are exceeding expectations, stability in core business, dropdowns on track, and the MLP/Propco structure is unaffected by the IRS proposal.

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