Sunoco Logistics Partners LP of Newtown Square will cease to exist at the end of the week.
About 88 percent of unit holders of Energy Transfer Partners LP approved on Wednesday the merger with its Sunoco Logistics subsidiary first announced in November. The merger will close Friday, and the combined company, headquartered in Dallas, will begin trading Monday on the New York Stock Exchange under the parent company's current ticker symbol, "ETP."
In recent years, Sunoco Logistics, created to support the operations of the former integrated oil giant Sun Oil Co., has developed a diverse network of pipelines and terminals for crude oil, natural-gas liquids, and refined products. Its signature project in Pennsylvania is the Mariner East pipeline to transport propane and ethane to its industrial complex in Marcus Hook.