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Thursday, February 21, 2013

Sunoco Logistics interested in acquisitions-CEO, (NYSE: SXL)

Sunoco Logistics Partners LP would be "very, very" active in the mergers and acquisitions market if assets for sale fit with its growth plans and made sense financially, Chief Executive Michael Hennigan told analysts on Thursday. His statement came after an analyst asked about Sunoco's interest in Hess Corp assets up for sale during the pipeline, terminal and storage company's fourth-quarter 2012 earnings conference call.Hess last month announced plans to sell its oil storage terminal network and exit the oil refining business.

Sunoco Logistics Partners L.P. owns and operates a logistics business, consisting of a portfolio of complementary pipeline, terminalling, and acquisition and marketing assets which are used to facilitate the purchase and sale of crude oil and refined products. Shares of SXL remained unchanged at $61.46. In the past year, the shares have traded as low as $31.65 and as high as $62.90. On average, 227285 shares of SXL exchange hands on a given day and today's volume is recorded at 0.