Friday, March 30, 2007

Sunoco (SUN) Active on Takeover Talk

Rumors of a Sunoco Inc. (NYSE: SUN) takeover sent shares of the company slightly higher this morning, but the shares have since backed off. According to a report from Bloomberg, trading in SUN call options was almost six times higher than normal.

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posted by Lon at 12:55 PM

2 Comments:

Anonymous Anonymous said...

I hope Sunoco and Lynn have a buyer, Merger or takeover person looking at the plants. This company has been good to work for. I strongly recomend them as a safe and reliable and especially environmentally sound refinery. They have instilled this in everyone of their workers. Which we all share anyway. Who wants to polute our own neighbor hoods. Good Luck Sunoco and remember fuel your future with Sunoco.

9:47 PM  
Anonymous Anonymous said...

Sun will actively look for a buyer or M and A person due to their downstream business only position. they need it to survive in this economic mess. If the US pulls out of this mess Sun will be fine but the long term opinion is it will last for a few years. I think they are currently in talks right now with an potential merger or aquisition deal.

10:10 AM  

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