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BUSINESS
January 22, 2000
Oneok Inc. canceled its plan to acquire Las Vegas-based Southwest Gas Corp. because of concerns over fraud allegations raised by a rival bidder and opposition from Arizona utility regulators. Oneok and Southwest denied the allegations made by Southern Union Co. A lawsuit is pending. Southwest Gas had agreed in May to Oneok's cash offer of $912 million, or $30 a share, and had rejected a $1.02-billion bid from Southern Union.
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BUSINESS
January 22, 2000
Oneok Inc. canceled its plan to acquire Las Vegas-based Southwest Gas Corp. because of concerns over fraud allegations raised by a rival bidder and opposition from Arizona utility regulators. Oneok and Southwest denied the allegations made by Southern Union Co. A lawsuit is pending. Southwest Gas had agreed in May to Oneok's cash offer of $912 million, or $30 a share, and had rejected a $1.02-billion bid from Southern Union.
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BUSINESS
January 29, 2004 | From Associated Press
A group of energy firms will pay $50 million to settle charges that they reported false natural gas trades to industry publications, the Commodity Futures Trading Commission said. Aquila Inc. agreed to pay $26.5 million and Xcel Energy Inc. agreed to pay $16 million to settle charges of false reporting and attempted manipulation of natural gas prices. Entergy-Koch and Oneok Inc. each will pay $3 million, and Calpine Corp. will pay $1.5 million to settle charges of false reporting.
BUSINESS
February 23, 1999 | From Times Wire Services
A fresh spate of mergers hit the gas and electric industry Monday, with Dominion Resources Inc. buying Consolidated Natural Gas Co. for $6.3 billion and San Diego-based Sempra Energy announcing, as expected, that it will acquire KN Energy for $1.8 billion in cash and stock. Meanwhile, a bidding war looked likely to erupt for Las Vegas-based natural gas utility Southwest Gas Corp., which said Monday it received an unsolicited takeover bid of $960 million from Southern Union Co. of Texas.
BUSINESS
May 14, 2004 | From Reuters
Several energy companies that store natural gas underground said Thursday that they had received subpoenas from federal authorities in an investigation into the run-up in prices last autumn. Last year natural gas prices rose nearly 50% from October to December. Industry heavyweights Duke Energy Corp., El Paso Corp., CenterPoint Energy Inc., TXU Corp. and ONEOK Inc. said they received subpoenas from the Commodity Futures Trading Commission in April and were cooperating.
BUSINESS
March 30, 2000 | From Bloomberg News
Western Resources Inc. said Wednesday that it will split into two companies, separating its Kansas electric utilities from riskier ventures. The non-utility company, not yet named, will include Western's 85% stake in Culver City-based Protection One Inc., a money-losing home-security company. Western's shares have fallen about 40% in the past year amid concerns about Protection One.
BUSINESS
January 4, 2000 | From Bloomberg News
Kansas City Power & Light Co. on Monday canceled its $2.5-billion merger with Western Resources Inc., citing Western's plunging stock price, which has been dragged down in part by its troubled Culver City-based Protection One Inc. home-security unit. Western Resources, Kansas' largest utility, tried for almost four years to buy Kansas City Power, which has about 450,000 electricity customers in Kansas and Missouri.
NEWS
February 25, 1997 | DEBORA VRANA, TIMES STAFF WRITER
Retired stockbroker Virginia Laddey closely watches the $15,000 she has invested in companies that promote women. The discrimination that she endured decades ago in a small trading office in Long Beach makes the 78-year-old determined to avoid "good-old-boy" companies when it comes to investing her nest egg. Sister Jane Harrington, who invests $30 million for the Catholic Sisters of St. Joseph of West Virginia, keeps an eye out for companies with women in senior management.
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