Update: Sunoco Buys Pipeline Builder Energy Transfer Partners

November 22, 2016

Bloomberg.com reports Sunoco Logistics Partners will acquire Energy Transfer Partners, the company responsible for constructing the Dakota Access Pipeline. The all-equity deal worth $21 billion announced Monday will give Energy Transfer Partners shareholders 1.5 common units of Sunoco for each ETP unit.

The transaction was approved by both firm's boards and is expected to close in Q1 2017.

The project has been held up from months as opposition from the Standing Rock Sioux tribe over the pipeline's path beneath its grounds has grown into a larger protest among activists, who have occupied land near the proposed construction site. Late Sunday, law enforcers and protesters clashed, injuring more than 150 people as tear gas, freezing cold water and rubber bullets were used to disperse a crowd.