Filing Flows › SunocoCorp LLC (SUNC) › Takeover & LBO
Is SunocoCorp LLC (SUNC) a takeover target?
A leveraged buyout at today's price plus 30% ($81.95 a share) would return about 22% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $93.31 a share (48% against today's $63.04). Historically 3.2% of companies with its figures were bought within a year (0.64× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $81.95 | today's $63.04 plus 30% |
| × shares | 51.6 million | |
| = Equity value | $4.2B | |
| + Debt refinanced | $13.2B | |
| − Cash | $891M | |
| = Enterprise value | $16.5B | 4.8× EBITDA of $3.4B |
| Fees | $330M | 2% of the price |
| New debt | $10.7B | 3.1× EBITDA at 7.65% a year; the limit that binds: 65% of the price |
| Buyer's own money | $6.1B | 36% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $53.1B | $3.5B | $820M | $1.5B | $9.3B |
| Year 2 | $54.7B | $3.6B | $708M | $1.6B | $7.6B |
| Year 3 | $56.4B | $3.8B | $584M | $1.8B | $5.9B |
| Year 4 | $58.1B | $3.9B | $448M | $2.0B | $3.9B |
| Year 5 | $59.8B | $4.0B | $298M | $2.1B | $1.8B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 4.5× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $18.0B | |
| − Debt left | $1.8B | |
| = Buyer's equity | $16.2B | |
| Money multiple | 2.66× | on $6.1B put in |
| Buyer's yearly return (IRR) | 21.6% |
Price against return
What the buyer makes at other premiums over today's $63.04; the IRR reaches 20% at $93.31 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $69.34 | 23.4% |
| 20% | $75.65 | 22.5% |
| 30% | $81.95 | 21.6% |
| 40% | $88.26 | 20.7% |
| 50% | $94.56 | 19.8% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $51.6B | |
| EBITDA, last 12 months | $3.4B | 6.7% of revenue |
| Depreciation and amortization | $1.1B | |
| Capital spending | $738M | |
| Debt | $13.2B | |
| Cash | $891M | |
| Share price | $63.04 | on Nov 6, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 3.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 21% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, SunocoCorp LLC would cost about $83.53 a share, $4.3B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $75.65 | $3.9B |
| Median | 32.5% | $83.53 | $4.3B |
| High end (a quarter paid more) | 51.8% | $95.69 | $4.9B |
The odds, from history
Historically 3.2% of companies with its figures were bought within a year (0.64× the average). Its figures put it in decile 3 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
SunocoCorp LLC's latest quarter
SunocoCorp LLC, Q3 2026: revenue $18.0B (+199% year over year), operating margin 4.1%, net earnings $81.0M, operating cash flow $696M. The chart follows the revenue to costs, profit and cash.
Questions
Is SunocoCorp LLC being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy SunocoCorp LLC?
A leveraged buyout at today's price plus 30% ($81.95 a share) would return about 22% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $93.31 a share (48% against today's $63.04).
What would a takeover of SunocoCorp LLC cost?
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, SunocoCorp LLC would cost about $83.53 a share, $4.3B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.