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WSJ: Southern Union Talked to Eight Possible Suitors

Monday, 11 Jul 2011 10:22 AM

Texas pipeline company Southern Union, which is the subject of a takeover bidding war, held talks with at least nine potential suitors beginning in 2008, The Wall Street Journal reported.

Southern Union was in talks with two of the companies earlier this year, but the discussions ended after the suitors conducted due diligence and came back with lower offers, the newspaper reported in its electronic edition.

Southern Union is expected to disclose the talks in a filing on Monday with the U.S. Securities and Exchange Commission, the newspaper said.

Last month, pipeline operator Energy Transfer Equity struck a sweetened $5 billion deal to buy Southern Union. Rival bidder Williams Companies is expected to raise its offer to compete with Energy Transfer, the newspaper reported.

The companies could not be immediately reached for comment.

Southern Union shares were unchanged in light premarket trading.

© 2017 Thomson/Reuters. All rights reserved.

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Texas pipeline company Southern Union, which is the subject of a takeover bidding war, held talks with at least nine potential suitors beginning in 2008, The Wall Street Journal reported. Southern Union was in talks with two of the companies earlier this year, but the...
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