The battle between Energy Transfer Equity and Williams Companies for control of Southern Union Company continued this week, with the immediate result being a renewed and revised merger agreement between ETE and Southern Union.
ETE upped its bid for Houston-based Southern Union another $800 million, bringing the offer to $5.9 billion. The Southern Union board accepted the increased bid–which was aimed at countering the latest Williams proposal of $5.5 billion–and entered into a merger agreement with ETE, the companies announced Tuesday.
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