ETE Warns Southern Union Against Williams Merger Talks

Law360, New York (June 29, 2011, 6:14 PM EDT) -- Energy Transfer Equity LP has told acquisition target Southern Union Co. that discussing a rival $8.7 billion offer with Williams Cos. Inc. would breach their own $7.9 billion deal, according to a letter filed with regulators Wednesday.

Dallas-based pipeline operator ETE said June 16 it would buy Houston-based diversified natural gas provider Southern Union for a total of $7.9 billion in debt and equity, with about $4.2 billion coming in stock offers. A week later, Tulsa, Okla.-based energy giant Williams made an unsolicited offer with a total value of $8.7...
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