Business & Finance
Business and Finance
Business and Finance
Thu, June 16, 2011 Kendall Law Group Investigates Southern Union Company
DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Southern Union Company (NYSE: SUG) for shareholders in connection with the proposed acquisition by Energy Transfer Equity, L.P. The national securities firma™s investigation seeks to determine whether Southern Union Company and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Southern Union Company shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].
On June 16, 2011, the companies announced the definitive merger agreement under which Southern Union Company would be acquired by Energy Transfer Equity, in a transaction valued at approximately $4.2 billion. Under the terms of the agreement, Southern Union Company stockholders will receive Series B Units of Energy Transfer Equity stock (ETE) with a value of $33.00 for each share of Southern Union Company/SUG common stock held. The offer represents an implied 17% premium to Southern Union Company's closing stock price on Wednesday and according to Thompson/First Call, analysts have set a price target as high as $34.00 per share for Southern Union Company stock. The firma™s investigation seeks to determine whether Southern Union Company and its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
