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Law Offices of Howard G. Smith Announces New Details Relating to its Investigation of Southern Union Co.

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  Published in Business and Finance on Thursday, June 23rd 2011 at 16:40 GMT by Market Wire
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BENSALEM, Pa.--([ BUSINESS WIRE ])--As previously announced, the Law Offices of Howard G. Smith is investigating potential claims against the board of directors of Southern Union Co. (NYSE:SUG) (aSUGa or the aCompanya) related to the definitive agreement that SUG entered into with Energy Transfer, L.P. to sell the Company. Under the proposed transaction, SUG shareholders will receive $33.00 per share in a cash-for-stock transaction. However, on Thursday June 23, 2011, it was announced that Williams Cos (aWilliamsa) made a topping bid for the Company. Under the Williamsa™ proposal, SUG shareholders will receive $6.00 per share more than under the deal struck with Energy Transfer L.P. The topping bid indicates that the Board may have breached its fiduciary duties by failing to adequately shop the Company before agreeing to enter into the proposed transaction.

If you are a shareholder of SUG, or if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll Free at 888-638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].