Energy Transfer Wins Southern Union With $9.4B Bid

Law360, New York (July 19, 2011, 7:46 PM EDT) -- Texas-based Southern Union Co. agreed Tuesday to a $9.4 billion purchase agreement with Energy Transfer Equity LP after a bidding war over the natural gas company with rival Williams Cos. that lasted more than a month.

The boards of Southern Union and Energy Transfer unanimously approved Energy Transfer's revised offer, which includes $5.7 billion in cash and Energy Transfer common stock. The revised agreement prevailed after Southern Union raised its price in response to weeks of back and forth between the two suitors.

Energy Transfer, based...
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