ETP Faces Shareholder Suit Over $9B Southern Union Deal

Law360, New York (November 29, 2011, 9:34 PM EST) -- Energy Transfer Partners LP shareholders hit the company with a lawsuit Monday in Texas over its owner's $9.4 billion acquisition of Southern Union Co. that has allegedly forced ETP to cough up more than its fair share to assist the transaction.

W.J. Garrett Trust claims the amendment to Energy Transfer Equity LP's June merger agreement with Southern Union that called on ETP to purchase Southern Union subsidiary Citrus Corp. for $2 billion was done without proper approval and is detrimental to both the company and its...
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