Williams (NYSE:WMB) said today it has proposed to acquire Southern Union Company (SUG) for $39 per share in cash, or a total enterprise value of $8.7 billion.
Williams noted the bid is a premium of 18% over Energy Transfer EquityÕs (NYSE:ETE) offer for Southern Union, announced last week. WilliamsÕ bid is also all in cash, which may be viewed as preferable to Energy TransferÕs offer to exchange partnership units in Energy Transfer.
Williams also noted its proposal is not subject to any financing contingency.
CEO Alan Armstrong said the acquisition would enhance WilliamsÕ position as a North American leader in services vital to connecting news supplies of natural gas, and will strengthen the companyÕs ability to deliver value and growth.
Southern Union confirmed it had received the offer, and said its board of directors would review the proposal.
Williams noted the transaction would not impact its plans to separate its exploration and production businesses, on track for the third quarter with a tax-free spinoff of WPX Energy.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
I can honestly say that the information shared on ValueForum has
Launch related slideshow:
Friday 4/20 Insider Buying Report: VRML, HYB
Thursday 4/19 Insider Buying Report: CRM
Nasdaq 100 Movers: JD, EBAY
S&P 500 Movers: MAT, GE
Dow Movers: AAPL, GE
S&P 500 Analyst Moves: PXD
S&P 500 Analyst Moves: HON
Dow Analyst Moves: MMM
Friday Sector Laggards: Paper & Forest Products, Textiles
Friday Sector Leaders: Shipping, Consumer Services
Thursday Sector Laggards: Cigarettes & Tobacco, General Contractors & Builders
Friday's ETF with Unusual Volume: SEA
Friday's ETF Movers: KRE, XLP
XLF, RUSS: Big ETF Outflows
Daily Dividend Report: V, KMI, MS, BK, SHW
Daily Dividend Report: QCOM, WHR, STBA, PEG, UNM
Daily Dividend Report: NNN, COKE, KNOP, MVC, LGI
Fed Tapers Bond Buying
Nonfarm payroll Employment Up 175,000 in February
Initial Claims Decrease, Productivity 1.8% Annual Rate Increase in Q4
Weekly Market Wrap: August 14, 2015
Weekly Market Wrap: August 7, 2015
Weekly Market Wrap: July 31, 2015
Week Ahead Market Report: June 8, 2015
Week Ahead Market Report: May 18, 2015
Week Ahead Market Report: May 4, 2015