There are 2 articles on this stock available only to PRO subscribers.
- The company beat 2Q consensus on the top line but missed on the bottom line.
- We can’t fight the fact that there’s an acquisition in the works, which flaws our bear thesis.
- We were wrong about this quarter, but its acquirer could become quite the play in the convenience store and fuel market.
- Susser Holdings Corp has agreed to be acquired by Energy Transfer Partners for $1.8 billion.
- Post-acquisition, ETP will drop down all its retail marketing facilities into an existing Susser MLP structure.
- Though the deal mechanics are a bit complex, the proposed result appears sound, even clever.
- The lowdown on the deal, and its puts and takes follow below.