Thursday, December 15, 2011

Southern Union shareholders approve merger with Energy Transfer

DALLAS, Texas. - Southern Union Co. shareholders on Dec. 9 overwhelmingly approved a $9.4 billion merger with Energy Transfer Equity LP, ending Tulsa-based Williams Cos. Inc.'s chance of gaining reconsideration for its lower bid to buy the Houston-based pipeline company.

Williams, however, still has a shot at buying some of Southern Union's pipeline assets after the merger.

"Obviously, Williams has shown interest in the assets in the past," company spokeswoman Julie Gentz said.

"While we can't speculate on any future actions, Williams is always looking at strategic and financially disciplined growth opportunities."

Energy Transfer CEO Kelcy Warren said last month that the Dallas-based ETE would not rule out a later deal with its former bidding rival.

No comments:

Post a Comment