10:21 AM EDT, 04/09/2024 (MT Newswires) -- Sunoco LP ( SUN ) and NuStar Energy ( NS ) said Tuesday that the waiting period for Sunoco's ( SUN ) $7.3 billion acquisition of NuStar under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has ended.

Under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, large companies are required to file a report before completing a merger, acquisition, or tender offer, with the US Federal Trade Commission and the US Department of Justice to evaluate potential antitrust issues.

The companies said a NuStar unitholder vote to seek approval for the potential acquisition is slated for May 1. The transaction is expected to close "shortly" after unitholder approval, they added.

NuStar unitholders are expected to receive Sunoco's ( SUN ) Q1 2024 distributions post-closing, the companies said.

Shares of Sunoco ( SUN ) were down 1.3% while NuStar was up 1.2% in recent Tuesday trading.

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