Why NuStar Energy Was a Stock Market Star This Week
It's safe to say that most investors dream of the day when one of their companies is bought out for a premium by a deep-pocketed buyer.
That dream became reality for unitholders of energy transport and storage specialist NuStar Energy (NYSE: NS) on Monday. A far larger peer has swooped in to purchase the company, and the buyout price is generous. Thanks to this development, NuStar's stock price was trading more than 17% higher week to date prior to Friday's market open, according to data compiled by S&P Global Market Intelligence.
That buyer is none other than energy incumbent Sunoco (NYSE: SUN), which has signed a definitive agreement with NuStar to acquire the smaller company in a deal valued at around $7.3 billion. The purchase, which is to be effected entirely in stock, includes the assumption of debt.
Source Fool.com
