Energy asset owner Energy Transfer Equity is gearing up to take-over Southern Union in a $7.9 billion deal.
The two parties have reached an agreement which will see Southern Union shareholders exchange their shares for newly issued ETE units priced at $33 per share.
ETE’s said its acquisition of the Houston-based natural gas company “will provide ETE with direct ownership of attractive assets” which complement those already operated by its two subsidiaries, Energy Transfer Partners and Regency Energy Partners.
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