Pipeline outfit Energy Transfer Equity has once again upped its game to buy Trunkline LNG terminal owner Southern Union in an attempt to beat off its bidding rival.
ETE’s revised merger agreement, which has been approved by both boards but is yet to secure shareholder backing, brings its offer to $9.4 billion, including $5.7 billion in cash and ETE shares.
This falls in line with fellow pipeline company Williams Companies’ latest bid total, however Williams was offering an all-cash acquisition.
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