Fortune: Merger Involving Newtown Square’s Sunoco Logistics One of Five Biggest Deals of 2016

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Mike Hennigan and Kelcy Warren
Mike Hennigan, left, the CEO of Sunoco Logistics, will continue in a leading management role after the merger, while Kelcy Warren, right, will be the CEO of the combined company.

While many were focused on the recent election, big businesses had other things on their mind, such as the recent, $51 billion merger between Sunoco Logistics Partners and Energy Transfer Partners, writes Lucinda Shen for Fortune magazine.

The deal ranked as one of the five biggest mergers and acquisitions of 2016, according to the magazine.

While seeming like a big change, both companies are, in fact, under the corporate umbrella of Energy Transfer Equity, the gas and oil pipeline giant. The synergy between the two companies should provide combined savings of more than $200 million annually by 2019.

According to a combined statement, these will be achieved through “increased diversification through the combination of Energy Transfer Partners’ primarily-gas-focused and Sunoco’s primarily-liquids-focused businesses.”

There were also several other major deals across America, such as tobacco giants BAT and Reynolds getting together in a $58 billion merger, and AT&T and Time Warner joining forces in a staggering $85.4 billion agreement.

Read more about the biggest mergers and acquisitions in Fortune by clicking here.

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