Energy Transfer Equity LP increased its bid to buy pipeline company Southern Union Co., agreeing to pay $5.1 billion in cash or units in an attempt to thwart a rival offer by Williams Cos.
Energy Transfer Partners LP, the owner of 35,000 miles of natural gas pipelines, will buy gasoline-station owner Susser Holdings Corp. for about $1.8 billion, expanding a retail unit it had been expected to sell.
Billionaire Kelcy Warren’s attempt to buy Targa Resources Corp. in what would’ve been the year’s biggest energy deal broke down yesterday. Targa shares slipped the most in more than two years.
Energy Transfer Equity LP agreed to buy Southern Union Co. for about $5.7 billion, its second effort to outbid Williams Cos. and complete the biggest purchase of a pipeline operator this year.
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