Energy Transfer Equity (ETE) has offered $9.4 billion to acquire Southern Union Group (SUG). The transaction comprises of $5.7 billion cash and ownership in ETE common units.
SUG shareholders can either swap their common shares for $44.25 of cash or one ETE common unit. Firms, including Evercore Partners and Goldman Sachs, are advising the special committee of SUG’s board of directors, while Credit Suisse is advising ETE on its bid.
Click here for the release from Energy Transfer Equity.