---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-012283"
form_type: "8-K"
ticker: "SUN"
cik: "0001552275"
company_name: "Sunoco LP"
filed_at: "2024-01-22T23:59:59+00:00"
generated_at: "2026-06-06T20:38:36.583133+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Sunoco to acquire NuStar in $7.3B all-equity deal with 24% premium

## Summary
- NuStar unitholders receive 0.400 Sunoco units per unit; ~24% premium based on 30-day VWAP.
- Transaction valued at $7.3B including assumed debt; expected to close H2 2024.
- Sunoco secured $1.6B bridge term loan and $1.5B revolver commitment from Truist.
- Merger approved by both boards; subject to NuStar unitholder and regulatory approvals.
- Sunoco to add one board member post-close; Energy Transfer enters support agreement.

## SEC filing metadata
- accession: 0001193125-24-012283
- form_type: 8-K
- ticker: SUN
- cik: 0001552275
- company_name: Sunoco LP
- filed_at: 2024-01-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1552275/000119312524012283/0001193125-24-012283-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1552275/000119312524012283/d695118d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-012283
- JSON: https://secwatch.observer/filing/0001193125-24-012283.json
- Plain text: https://secwatch.observer/filing/0001193125-24-012283.txt

## Key facts
- Material Agreements
  Sunoco LP entered into Agreement and Plan of Merger with NuStar Energy L.P. (effective 2024-01-22).
  - Action: entry
  - Agreement: merger
  - Counterparty: NuStar Energy L.P.
  - Effective: 2024-01-22
  source text: On January 22, 2024, Sunoco LP, a Delaware limited partnership (“ Parent ”), Saturn Merger Sub, LLC, a Delaware limited liability company and a direct wholly owned subsidiary of Parent (“ Merger Sub ”), NuStar Energy L.P., a Delaware limited partnership (the “ Partnership ”), Riverwalk Logistics, L.P., a Delaware limited partnership (the “ Partnership GP ”) and sole general partner of the Partnership, NuStar GP, LLC, a Delaware limited liability company (“ Partnership Managing GP ”) and the sole general partner of the Partnership GP and Sunoco GP LLC, a Delaware limited liability company (the “ Parent GP ”) and sole general partner of Parent, entered into an Agreement and Plan of Merger (the “ Merger Agreement ”),
  evidence_url: https://www.sec.gov/Archives/edgar/data/1552275/000119312524012283/0001193125-24-012283-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.