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Casey's General Stores, Inc. Message Board

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  • Following could be reason:
    Energy Transfer Partners to Buy Susser for $1.8 Billion
    By Jim Polson and Alex Nussbaum Apr 28, 2014 12:15 PM ET

    Energy Transfer (ETE) Partners LP, the owner of 35,000 miles of natural gas pipelines, will buy gasoline-station owner Susser Holdings Corp. (SUSS) for about $1.8 billion, expanding a retail unit it had been expected to sell.

    Shareholders of Susser Holdings will have the option to receive either $80.25 in cash or 1.4506 Energy Transfer common units, or a combination, for each share held, Dallas-based Energy Transfer said today in a statement. The cash offer price represents a 41 percent premium over Susser’s closing price on April 25.

    Kelcy Warren, Energy Transfer’s billionaire chief executive officer, paid $5.3 billion in 2012 for Sunoco Inc.’s 5,000 gas stations. The Susser deal builds the company’s retail presence in Texas, where an oil-drilling boom is driving economic growth.

    Warren’s “continued M&A appetite” will “not surprise the market, although the target will as most had expected a sale of the Sunoco retail unit,” Ethan Bellamy, an analyst at Robert W. Baird & Co. in Denver, said in a note to clients today. “At first blush, the transaction looks likely to be beneficial to all parties.”

    Energy Transfer Partners fell 1.9 percent to $54.76 at 12:09 p.m. in New York trading. Its parent company, Energy Transfer Equity LP, was down 0.4 percent at $46.68. Susser jumped 36 percent to $77.47.

  • Better burgers, better coffee, and I get fuel. At MCD you get coffee that may clot on you, burgers that may have something that taste close to meat and a line a half a mile long. No fuel. A new Casey's being built here and I am tickled. If they only had my homemade pork bbq sandwich. Oh by the way, stock price forming a base for the next leg up. GLTA & GB.

  • Reply to

    caseys

    by motpooc51 Apr 25, 2014 2:27 PM

    Nothing!!!!! Best burger around!!

  • What the hell is wrong with this stock??????

CASY
67.55+0.30(+0.45%)Jul 24 4:00 PMEDT

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