Sunoco LP (NYSE: SUN)
Sunoco is having a strong start to the trading session this morning, and for good reason. It was announced early this morning that the company would be acquired. As a result, investor excitement ensued, leading to gains in the value of the stock and prompting our partners at Trade Ideas to alert us to the movement. Currently (8:13), SUN is trading at $25.31 per share after a gain of 6.08% thus far this morning.
SUN To Be Acquired By 7-Eleven
As mentioned above, Sunoco is having a strong time in the pre-market hours this morning after news was released that the company would be acquired. In this particular case, 7-Eleven will be purchasing the company for a record $3.3 billion in a bet on the United States economy. Of course, the deal is subject to customary closing conditions. Nonetheless, all in all, this is a big one that's likely to make its way through!
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping an incredibly close eye on SUN. In particular, we'll be watching the deal with 7-Eleven to see if everything goes off without a hitch. We'll continue to follow the story closely and bring the news to you as it breaks!
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