Getting your player ready...
DALLAS — Energy Transfer Equity LP has agreed to pay a revised $5.1 billion for pipeline company Southern Union Co., increasing its offer in an effort to trump rival bidder Williams Cos. Inc.
The boards of Energy Transfer and Southern Union have approved the revised deal, which was announced Tuesday.
“We have listened to Southern Union shareholders and are providing a superior yet simpler transaction, including a significant cash component and the opportunity to benefit from Energy Transfer’s upside through the ownership of Energy Transfer common units,” Energy Transfer chairman Kelcy Warren said in a statement.
