Energy Transfer Partners to acquire Susser Holdings in $1.8B deal

|About: Susser Holdings Corporation (SUSS)|By:, SA News Editor

Under terms of the deal - unanimously approved by both boards - Susser (SUSS) owners can received either $80.25 in cash for 1.4506 ETP units for each share of Susser they own. Susser closed at $57.03 on Friday.

Susser currently operates 630 retail convenience stores (Stripes) across Texas, New Mexico, and Oklahoma.

Energy Transfer already has agreement from Susser shareholders representing 10% of the company to exchange their SUSS shares for ETP shares.

Overall synergies between Stripes and Sunoco are expected to exceed $70M annually, and be realized within 6-12 months post-closing.

CC at 8 ET