Energy Transfer and Partners Sunoco announce preliminary results of elections

theflyonthewall.com

Energy Transfer Partners (ETP) and Sunoco (SUN) announced the preliminary results of the elections made by Sunoco shareholders regarding the form of merger consideration to be received in connection with ETP's pending acquisition of Sunoco, which is currently expected to be completed on October 5. Based on available information as of the election deadline of 5:00 p.m., New York time, on October 1, 2012, the preliminary election results were as follows: holders of approximately 2,733,842 Sunoco shares, or approximately 2.61% of the outstanding Sunoco shares, elected to receive the Standard Mix of Consideration; holders of approximately 77,474,401 Sunoco shares, or approximately 73.92% of the outstanding Sunoco shares, elected to receive the Cash Consideration; holders of approximately 4,451,739 Sunoco shares, or approximately 4.25% of the outstanding Sunoco shares, elected to receive the Unit Consideration; and holders of approximately 20,147,879 Sunoco shares, or approximately 19.22% of the outstanding Sunoco shares, did not make a valid election or did not deliver a valid election form prior to the election deadline and, therefore are deemed to have elected the Standard Mix of Consideration.

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