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.
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