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...

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Sign in

Not a subscriber?

To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.

Sign up