Susser Holdings Corp. announced it has set a date for a special meeting of its stockholders to consider and vote on the previously announced proposed acquisition of Susser Holdings by Energy Transfer Partners, L.P. and certain other matters.
The special meeting will be held on Thursday, Aug. 28, 2014, at 10 a.m. Central Time at Susser’s corporate offices at 4525 Ayers St., Corpus Christi, Texas 78415. Susser Holdings stockholders of record as of July 22, 2014, are entitled to vote at the special meeting. The proposed acquisition is subject to approval by Susser’s stockholders and certain other customary closing conditions.
Under the terms of the merger agreement, which has been unanimously approved by the Boards of Directors of ETP and SUSS, stockholders of Susser Holdings will have the option to elect to receive either $80.25 in cash or 1.4506 ETP common units, or a combination of both, for each share held. The stockholder election is subject to proration to ensure that aggregate cash paid and common units issued will each represent 50% of the aggregate merger consideration.
Susser Holdings Corp., based in Corpus Christi, Texas, operates approximately 635 convenience stores in Texas, New Mexico and Oklahoma under the Stripes and Sac-N-Pac banners.