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Williams Bids $5B For Pipeline Firm

Williams Companies has offered to acquire pipeline company Southern Union for about $5 billion in cash.

Williams Companies has offered to acquire pipeline company Southern Union for about $5 billion in cash, The Wall Street Journal reports. Energy Transfer Equity had earlier agreed to buy Southern for $4.2 billion.

Both the offers include $3.7 billion of debt assumption. Southern Union will have to pay a breakup fee of about $94.5 million if it accepts Williams’ offer. Barclays and Citi are acting as advisors to Williams, adds Reuters.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Reuters.

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