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SEC OKs registration statement for ETP/Sunoco merger deal

The SEC declared effective the registration statement related to the pending merger between Energy Transfer Partners LP and Sunoco Logistics Partners LP, one of the closing conditions for the deal.

In addition, ETP filed a proxy statement with the SEC for the special meeting in which unit holders will be voting on the merger deal, according to a March 24 news release.

The special meeting is scheduled for April 26. ETP's unit holders of record as of the close of business Feb. 27 are entitled to vote. The unit holders stand to receive 1.5 Sunoco common units for each ETP common unit they own upon deal closing, valuing the transaction at a 10% premium to the volume weighted average price of ETP units for the 30 trading days before the deal announcement.

The merger is expected to close in April.