Latham Reps ETE In $7.9B Southern Union Buy

Law360, New York (June 16, 2011, 12:03 PM EDT) -- Dallas-based pipeline operator Energy Transfer Equity LP said Thursday it would buy Houston-based diversified natural gas provider Southern Union Co. for about $7.9 billion in debt and equity.

Southern Union stockholders will receive new Series B ETE stock for $33 a share, or about $4.2 billion, in exchange for their common shares of Southern Union. The share price is about a 17 percent premium on Southern Union's closing price Wednesday.

"Southern Union stockholders will receive an attractive premium, an enhanced income stream and the benefits of...
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