Energy Transfer Equity acquired Energy Transfer Partners in simplification transaction

Energy Transfer Equity and Energy Transfer Partners completed their merger. At the effective time of the merger, each ETP common unit converted into the right to receive 1.28 ETE common units. Based on the ETP units outstanding, ETE issued approximately 1.46bn ETE common units to ETP unitholders. Transaction valued Energy Transfer Partners at $24.5bn. As part of the merger, Energy Transfer Equity changed its name to Energy Transfer and its common units will begin trading on the New York Stock Exchange under the “ET” ticker symbol at the opening of the market today. In addition, ETP changed its name to Energy Transfer Operating and its common units ceased trading on the NYSE effective with the opening of the market today. ETP’s Series C preferred units and Series D preferred units continue to be listed on the NYSE under the symbols “ETPprC” and “ETPprD”, respectively.