Deals
Energy Transfer Agrees to Buy Southern for $5.7 Billion
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Energy Transfer Equity LP agreed to buy Southern Union Co. for about $5.7 billion, its second effort to outbid Williams Cos. and complete the biggest purchase of a pipeline operator this year.
The proposal values the company at about $44.25 a share, redeemable in cash or stock, according to a statement today from Dallas-based Energy Transfer and Southern Union. It’s a 57 percent premium over Southern Union’s closing price on June 15, the day before the companies first announced the takeover.