Southern Union jumps; bidding seen going higher

A 16 percent jump in Houston-based Southern Union Co's (SUG.N) shares on Friday suggests investors expect further bidding activity to win the owner of more than 20,000 miles of U.S. gas pipelines.

Rival pipeline operator Energy Transfer Equity L.P. (ETE.N) insists that its tax-deferred $4.1 billion offer for Southern Union is better than Williams Companies Inc's (WMB.N) $4.9 billion cash bid.

As natural gas prices remain depressed, and gasoline prices stay high, pipeline companies are scrambling to increase their capacity to transport gas from shale fields to customers.

Southern Union owns and runs pipelines in the U.S. Southeast, Midwest and Great Lakes regions, as well as in Texas and New Mexico.

Read Full Article from Reuters

- Posted: 2011-06-24 11:20:03

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