Nothing but negotiation

 
The Gap Partnership

Williams in business negotiations with Southern Union

Southern Union has been made an all-cash offer of $44 per share by Williams.

17 August 2011

Williams may need the help of merger and acquisition consultants as it seeks to push through a deal to take over Southern Union.

The former is offering $44 (£27) per share for the latter and it remains to be seen wither the all-cash offer will be accepted by shareholders.

Due diligence has been completed by Williams, while president and chief executive officer of the firm Alan Armstrong observed the market conditions have been evaluated.

"We are confident that Williams' acquisition of Southern Union will immediately increase our cash flows, support our commitment to high-dividend payouts and drive long-term growth," he added.

There are no financial conditions concerned with the agreement, while it represents a four per cent premium on the cash and stock offer from Energy Transfer.

Second quarter financial results were recently released for Williams that found net income was $227 million, as strong performances were recorded across all business avenues.

Posted by David Gleck
 

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