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Sunoco LP (NYSE:SUN) ("Sunoco" or "SUN") and NuStar Energy L.P. (NYSE:NS) ("NuStar" or "NS") announced the approval by NuStar unitholders of the previously announced merger, pursuant to which NuStar will merge with and into a merger subsidiary of Sunoco.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240501484326/en/
NuStar's Special Meeting was held at 9:00 a.m. Central Time on May 1, 2024. According to preliminary results of the Special Meeting, approximately 69% of the outstanding common units of NuStar voted in favor of the transaction. NuStar will disclose the final vote result of the Special Meeting on a Form 8-K filed with the U.S. Securities and Exchange Commission ("the SEC"). The transaction is expected to close on or about May 3, 2024, subject to the satisfaction of customary closing conditions.
As previously announced, upon completion of the transaction, NuStar common unitholders will receive 0.400 of a Sunoco common unit for each NuStar common unit. Additionally, NuStar unitholders are anticipated to receive Sunoco's first quarter 2024 distribution.
