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BUSINESS
December 17, 2005 | From Associated Press
The Bass family, long synonymous with oil and wealth in Texas, has agreed to sell one of its last holdings in the oil and gas industry, the pipeline company Sid Richardson Energy Services Co., to the natural gas distributor Southern Union Co. The $1.6-billion cash deal will give Southern Union one of the nation's largest networks of gas pipelines, at more than 22,000 miles crisscrossing the Gulf of Mexico, the Southwest, the Midwest and Canada.
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BUSINESS
December 17, 2005 | From Associated Press
The Bass family, long synonymous with oil and wealth in Texas, has agreed to sell one of its last holdings in the oil and gas industry, the pipeline company Sid Richardson Energy Services Co., to the natural gas distributor Southern Union Co. The $1.6-billion cash deal will give Southern Union one of the nation's largest networks of gas pipelines, at more than 22,000 miles crisscrossing the Gulf of Mexico, the Southwest, the Midwest and Canada.
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BUSINESS
April 18, 1986 | TOM FURLONG, Times Staff Writer
An investment company headed by Los Angeles financier Charles W. Knapp said Thursday that it wants to buy a Dallas energy company, Southern Union Co., for $242.4 million in cash. Trafalgar Holdings said it has told Southern Union's board that it wants to acquire the firm's 10.1 million outstanding shares for $24 apiece. The board has until next Wednesday evening to respond, Trafalgar said.
BUSINESS
December 23, 2002 | From Associated Press
CMS Energy Corp. said Sunday that it had agreed to sell its natural gas pipeline business to Southern Union Co. and an investment fund for $662 million and the assumption of $1.17 billion in debt. CMS Panhandle Cos. would be acquired by Southern Union Panhandle Corp., a new company established by Southern and AIG Highstar, an equity fund sponsored by American International Group Inc.
BUSINESS
December 23, 2002 | From Associated Press
CMS Energy Corp. said Sunday that it had agreed to sell its natural gas pipeline business to Southern Union Co. and an investment fund for $662 million and the assumption of $1.17 billion in debt. CMS Panhandle Cos. would be acquired by Southern Union Panhandle Corp., a new company established by Southern and AIG Highstar, an equity fund sponsored by American International Group Inc.
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.
BUSINESS
September 2, 2004 | From Bloomberg News
Enron Corp., which owes creditors more than $74 billion, said it would seek federal Bankruptcy Court approval for CCE Holdings to buy its U.S. natural gas pipelines for $2.45 billion. The joint venture of Southern Union Co. and General Electric Co. was high bidder, Houston-based Enron said. Court approval for the winning bid will be sought Sept. 9.
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
July 6, 2000 | From Bloomberg News
Capstone Turbine Corp. shares jumped 20% Wednesday after a New Zealand newspaper reported that Fletcher Challenge Ltd. might sell its 11% stake in the Woodland Hills-based maker of generators for homes and small businesses. The shares surged $7.69 to close at $46.75 on Nasdaq. They've nearly tripled since Capstone sold a 12% stake to the public last week, giving the company a market value of $3.43 billion.
BUSINESS
June 17, 1986 | DENISE GELLENE, Times Staff Writer
Grand Metropolitan PLC, based in London, on Monday rejected a nearly $900-million offer by Trafalgar Holdings for its Inter-Continental hotel chain and other hotel operations. Grand Met, with far-flung operations in health care, brewing and tobacco as well as hotels, said it considered the hotel operations a core part of its business and is not interested in selling. The British concern received Trafalgar's bid on June 6.
BUSINESS
April 18, 1986 | TOM FURLONG, Times Staff Writer
An investment company headed by Los Angeles financier Charles W. Knapp said Thursday that it wants to buy a Dallas energy company, Southern Union Co., for $242.4 million in cash. Trafalgar Holdings said it has told Southern Union's board that it wants to acquire the firm's 10.1 million outstanding shares for $24 apiece. The board has until next Wednesday evening to respond, Trafalgar said.
BUSINESS
April 30, 2003 | From Reuters
Money manager and stock picker Ron Baron, an investment firm he founded and two traders agreed to pay a total of $2.7 million to settle allegations they manipulated an energy company's stock in 1999, federal securities regulators said Tuesday. The Securities and Exchange Commission alleged the New York fund manager, Baron Capital Group Inc.
NEWS
June 20, 1990 | PATRICK LEE, TIMES STAFF WRITER
General Motors Corp., the nation's largest auto maker, is near an agreement with gas companies in California and Texas that would lead to the first commercial production of natural gas-powered trucks, a Southern California Gas Co. official confirmed Tuesday. Ford Motor Co., the No. 2 American auto maker, is in similar talks, but is unlikely to reach an agreement before early next year, said Roberta Nichols, manager of Ford's alternative fuels department.
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