During Thursday’s Current trade, Shares of Sunoco Logistics Partners L.P. (NYSE:SXL), lost -0.34% to $35.10.
ETP also owns the general partner, 100% of the incentive distribution rights, and about 67.1 million common units in Sunoco Logistics Partners L.P. (SXL), which operates a geographically diverse portfolio of crude oil and refined products pipelines, terminalling and crude oil acquisition and marketing assets. Energy Transfer Equity, L.P. stated that despite recent turmoil in the world energy and financial markets, it is confirming its merger proposal, under which ETE would acquire all of the outstanding common stock of The Williams Companies, Inc. (WMB) (“Williams” or “WMB”) at a fixed exchange ratio of 0.9358 ETE Corp shares for each Williams share, representing a 32.4% premium to the Williams common share closing price as of June 19, 2015, based on ETE’s unit price on the same date.
Despite comments made by Williams administration to research analysts and WMB stockholders, ETE continues to be open to engaging in the planned alternatives process declared by Williams, but only if it is fair and evenhanded and is not designed to disadvantage ETE (and ultimately WMB shareholders) or unduly restrict ETE’s ability to pursue the projected transaction.
Regardless of whether ETE take parts in the Williams process, ETE is ready to provide confidential information to WMB without material restrictions so that WMB and its Board can understand what ETE believes to be the truly unique and compelling investment and return characteristics accessible to the Williams stockholder from this combination.
Sunoco Logistics Partners L.P. transports, terminals, and stores crude oil, refined products, and natural gas liquids (NGLs). It operates through four segments: Crude Oil Pipelines, Crude Oil Acquisition and Marketing, Terminal Facilities, and Products Pipelines. The Crude Oil Pipelines segment transports crude oil primarily in Oklahoma and Texas. It contains about 5,300 miles of crude oil trunk pipelines, in addition to about 500 miles of crude oil gathering lines.
Shares of Service Corporation International (NYSE:SCI), declined -1.29% to $31.49, during its current trading session.
Service Corporation International (SCI) declared that it has priced an underwritten public offering of $300 million of its 5.375% Senior Notes due 2024 (the “Notes”) in a reopening of its existing series of such Notes. The price to the purchasers was 1.0375% of the principal amount of the Notes representing a yield-to-worst of 4.719%. The Company anticipates to close the sale of the notes on August 18, 2015, subject to the satisfaction of customary closing conditions.
The Notes form a part of the series of the Company’s outstanding 5.375% Senior Notes due 2024 and have the same terms as the existing notes of this series issued by the Company. The Notes will have the same CUSIP number as the existing notes and will trade interchangeably with the existing notes right away upon settlement. The Notes and the existing notes formerly issued by the Company will constitute a single series under the indenture for all purposes. Upon issuance of the Notes, the aggregate principal amount outstanding of the Company’s 5.375% Senior Notes due 2024 will be $850 million.
Service Corporation International, together with its auxiliaries, provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and related businesses.
CubeSmart (NYSE:CUBE), during its Thursday’s current trading session gained 0.11% to $26.55.
CubeSmart (CUBE), a self-administered and self-managed real estate investment trust focused on self-storage facilities, declared recently that its Board of Trustees declared a quarterly dividend of $0.16 per common share for the period ending September 30, 2015. The dividend is payable on October 15, 2015 to common shareholders of record on October 1, 2015. The Board of Trustees also declared a quarterly dividend of $0.484375 for the 7.75% Series A Cumulative Redeemable Preferred Shares payable on October 15, 2015 to holders of record on October 1, 2015.
CubeSmart is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It engages in ownership, operation, acquisition and development of self-storage facilities. The firm was formerly known as U-Store-It Trust. CubeSmart was founded in July 2004 and is based in Malvern, Pennsylvania.
Finally, WEC Energy Group Inc (NYSE:WEC), gained 0.33%, to $51.70.
Trillium CNG™, a business unit of WEC Energy Group (NYSE: WEC), has signed a letter of agreement to design, build, operate and maintain a compressed natural gas (CNG) fueling station for the Niagara Frontier Transportation Authority (NFTA) in Buffalo, New York. NFTA is the public transit provider serving Erie and Niagara counties in New York.
The new CNG station will be located at the NFTA Frontier Bus Garage at 1000 Military Road in Buffalo. The agreement letter also calls for Trillium CNG to provide station maintenance for ten years. Trillium CNG and NFTA expect to break ground in August with the station fully operational by the end of 2015.
The NFTA operates a fleet of about 332 transit buses and 65 bus routes with over 4,400 bus stops serviced; together with a 6.2 mile light rail system servicing 14 stations.
WEC Energy Group, Inc., through its auxiliaries, generates and distributes electric energy. The company operates in two segments, Utility Energy and Non-Utility Energy. It generates electricity from coal, natural gas, oil, hydroelectric, wind, and biomass. The company provides electric utility services to customers in the paper, foundry, food products, and machinery production industries, in addition to the retail chains.
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