Jun 28, 2011
Southern Union Co (NYSE:SUG) has begun the process of providing takeover suitor Williams Cos. (NYSE:WMB) with confidential business information, according to a filing today with the SEC.
That's despite a warning from the company's original acquisition partner Energy Transfer Equity (NYSE:ETE) that doing so would be in violation of their signed agreement.
Williams offered $4.9 billion, all in cash, for Southern Union last week.
While Energy Transfer maintains that its $4.2 billion offer is still superior due to its deferred tax structure, things aren't looking good for the company.
Shares of The Williams Cos are trading up 2.33% at $29.47.
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