Pipelines, Storage & Power

Williams aims to trump ETE Southern Union offer

United States gas group Williams sought to trump Energy Transfer Equity (ETE) group’s bid for the Southern Union Company on Thursday with a $4.9 billion counter offer.
By James Batty 24 June 2011 0 221

United States (US) gas group Williams sought to trump Energy Transfer Equity (ETE) group’s bid for the Southern Union Company on Thursday with a $4.9 billion counter offer.

In an announcement issued on the New York Stock Exchange, Williams made the all-cash $39 per share offer for Southern Union, a Houston-based gas distribution company that owns one of the US’ largest pipeline networks, including assets in Texas, New Mexico, Missouri and Massachusetts.  The offer is at an 18% premium to ETE’s proposal, which was made on...