The assumption that the SUN shareholders would sell their 1/2 stock instead of buying with their 1/2 money...Pure foolishness.
The assumption that you should sell anything going into massive QE. Pure stupidity.
Anyone thinking like a short term trader is going to get destroyed for the next few years. Reagan doubled the money supply and got a 20x move in the DOW. If you sell anything here, after a 10 year base in the markets, while they are breaking above that base, and with this kind of money printing, you might as well go get a job as janitor somewhere. You don't belong anywhere near money.
One can also assume that after years and years of SUN paying .20 cent per quarter dividends the ETP distribution looks much better in the long run. After all if you had stuck with Sunoco for all these years and see a better plan for growth with ETP why sell out?
Now the question is, what happens with all of those Sunoco stations short / long-term?
Fidelity shows over 8.6 million shares ETP short. With $0.89 Dividend during a bull market. Must make a note not to do that. Did the shorts believe there own posts or listen to Cramer? Will buy back in whem PPS falls to earth.