Southern Union pipeline merger passes anti-trust review period

Source: Energy Transfer Equity

Energy Transfer Equity, L.P. (NYSE:ETE) and Southern Union Company (NYSE:SUG) reported that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) has expired in connection with the previously announced amended and restated merger agreement under which ETE will acquire SUG for cash or ETE common units at the election of SUG stockholders (subject to proration). 

The expiration of the HSR review period satisfies a significant regulatory condition to the consummation of the proposed merger. 

The merger is expected to be consummated in the first quarter of 2012, subject to the receipt of SUG stockholder approvals and certain other regulatory approvals.

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