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Southern Union Co. (SUG)

SUG is defunct.
  • Feb. 28, 2013, 4:15 AM
    Regency (RGP) will finance its $1.5B purchase of Southern Union Gathering Company by issuing $900M of new units to Southern Union Company (SUG), with the remaining $600M to be paid in cash funded from long-term borrowings. (PR)
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  • Feb. 28, 2013, 4:14 AM
    Regency Energy Partners (RGP) will acquire Southern Union Gathering Company (SUGC) for $1.5B in a deal that will provide Regency with a 5,600 mile gas gathering system and expand its presence in the Permian Basin in the southern U.S. Regency is buying SUGC from Southern Union Company (SUG), a jointly owned affiliate of Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP). (PR)
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  • Jun. 18, 2012, 11:35 AM
    Pipeline operator Energy Transfer Equity (ETE) will drop down its interest in Southern Union (SUG), into a new unit called ETP Holdco that will be 60%-controlled by ETE and 40%-controlled related firm Energy Transfer Partners (ETP). The dropdown will take place when ETP closes its $5.35B of Southern Union, with Holdco also taking on Southern's assets. (PR)
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  • Oct. 28, 2011, 10:44 AM
    The top two execs at Southern Union (SUG) may collect up to $75M combined in the sale of their natural gas company to Energy Transfer Equity (ETE), according to an SEC filing. CEO George Lindemann may pocket $44.8M in cash, cashed-out stock and other benefits, while COO Eric Herschmann could collect $29.8M.
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  • Aug. 17, 2011, 8:57 AM
    Thanks but no thanks: Southern Union (SUG) says its board rejects Williams Cos. (WMB) $44/share offer and “reaffirms its recommendation” to sell the company to Energy Transfer Equity (ETE).
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  • Jul. 19, 2011, 1:35 PM
    Energy Transfer (ETE -0.4%) raises its offer for Southern Union (SUG +2%), agreeing to pay $44.25/share, or ~$5.7B, in slightly topping the recent offer of $44/share from Williams Cos. (WMB +0.9%)
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  • Jul. 15, 2011, 8:41 AM
    Southern Union (SUG) says it will enter into negotiations with Williams Cos. (WMB), which just upped its bid for the natural gas pipeline operator to $44/share. SUG's board still recommends Energy Transfer's (ETE) earlier bid, and its decision to provide non-public information does not mean the revised Williams proposal is superior.
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  • Jul. 14, 2011, 8:12 AM
    Williams (WMB -1%) raises its bid for Southern Union (SUG), offering $44/share in cash. Energy Transfer (ETE) previously bid $40/share, while Williams had originally proposed $39/share. SUG +4.3% to $43.37. (PR
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  • Jul. 8, 2011, 3:56 PM
    Williams Cos. (WMB -2.3%) seems likely to move ahead with an offer to top Energy Transfer's (ETE +0.1%) latest $40/share offer for Southern Union (SUG -0.3%) after its board meets this weekend, CNBC's David Faber reports. The proposal probably would include a “hell or high water” provision where the buyer takes the risk if the plan doesn’t work.
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  • Jul. 5, 2011, 10:58 AM
    Williams Cos. (WMB -0.6%) may raise its bid for Southern Union (SUG +2.8%) after Energy Transfer Equity's (ETE +0.2%) latest $40/share offer, Tudor Pickering analysts say. The deal talk, plus a ~1.5% rise in crude oil prices and other news (I, II) send energy shares (XLE +0.9%) broadly higher. Not participating: XOM, -0.2% after its Yellowstone spill.
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  • Jul. 5, 2011, 6:31 AM
    In an amended merger agreement, Energy Transfer Equity (ETE) has increased its bid for Southern Union (SUG) to $8.9B, or $40/share, from its original offer of $7.9B. The new proposal tops Williams' (WMB) $8.7B ($39/share) bid. SUG closed at $40.37 on Friday.
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  • Jun. 29, 2011, 4:34 PM
    Energy Transfer Equity (ETE) warns takeover target Southern Union (SUG) that talking to rival suitor Williams Cos. (WMB) would be a "willful" breach of their $4.2B merger agreement. Although Southern's sharing of information with Williams wouldn't cause a merger cancellation, it "could materially damage the business that Energy Transfer will be acquiring," ETE says.
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  • Jun. 28, 2011, 10:36 AM
    Southern Union (SUG -0.2%) has begun the process of giving confidential business information to takeover suitor Williams Cos. (WMB +2.8%), according to an SEC filing, despite a warning from existing acquisition partner Energy Transfer Equity (ETE +0.6%) not to do so. Last week, Williams offered ~$5B to upset Southern Union’s sale to ETE.
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  • Jun. 27, 2011, 10:39 AM
    Hardball: Energy Transfer (ETE) tells Southern Union (SUG) it can’t hold deal talks with Williams (WMB), after WMB's $4.9B bid for the natural gas pipeline operator topped ETE's earlier $4.2B offer. SO's board “is not permitted by the merger agreement to engage in any discussions or negotiations with Williams,” says an SEC filing, and can't hand over “non-public information” to Williams.
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  • Jun. 24, 2011, 4:32 PM
    Here's why Southern Union (SUG +16.7%) might prefer Energy Transfer's (ETE -5.5%) $33/share bid over Williams' (WMB -2.3%) $39/share offer: Top executives would get a sweet deal from ETE. "Each man will get $3M/year for five years, with the obligation to work at most 40 hours/week the first year, 30 hours the second year, and 20 hours each year after that.”
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  • Jun. 16, 2011, 7:04 AM
    Energy Transfer (ETE) buying Southern Union (SUG) for $7.9B, including the acquisition of $3.7B of debt. The $33/share offer is a 17% premium to Southern Union's close yesterday. (PR)
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Company Description
Currently, there's no company description for SUG.
Sector: Utilities
Industry: Gas Utilities
Country: United States