Williams Makes $4.9B Southern Union Bid
NEW YORK ( TheStreet) -- Shares of Southern Union (SUG) soared late Thursday after receiving an all-cash buyout proposal from Williams (WMB) that values the natural gas pipeline company at $4.9 billion, or $39 a share.
Both the Williams' and Energy Transfer offers include the assumption of $3.7 billion of debt.
In a statement late Thursday, Southern Union said its board will "review the Williams' bid " in due course, consistent with fiduciary duties and in accordance with the terms and conditions of Southern Union's previously announced merger agreement with Energy Transfer."Shares of Southern Union rose to $39.20, up 14.8%, in after-hours trading on Thursday. -- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV