NuStar Energy Unitholders Approve Merger with Sunoco LP

Nustar Energy LP (NS) has issued an update.

NuStar Energy L.P. held a decisive Special Meeting on May 1, 2024, where unitholders overwhelmingly approved a merger with Sunoco LP. Approximately 70% of the outstanding voting power was present, and they voted in favor of the Merger Agreement and the associated executive compensation plan, although the latter saw a notable amount of opposition. This pivotal move paves the way for NuStar to merge into Sunoco and operate as its subsidiary, pending the satisfaction of closing conditions. The successful vote results were subsequently announced in a joint press release by NuStar and Sunoco.

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