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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (43324)	7/19/2011 5:09:59 PM
From: E_K_S	Respond to of 78520

The counter to the counter . . . Re: Southern Union Co. (SUG) Williams Companies, Inc. (WMB) Energy Transfer Equity, L.P. (ETE) Energy Transfer to Buy Southern Union for $5.7 Billion to Counter Williams By Mike Lee - Jul 19, 2011 1:12 PM PT bloomberg.com From the article:"...Energy Transfer Equity LP (ETE) agreed to buy Southern Union Co. (SUG) for about $5.7 billion, its second effort to outbid Williams Cos. and complete the biggest purchase of a pipeline operator this year. The proposal values the company at about $44.25 a share, redeemable in cash or stock, according to a statement today from Dallas-based Energy Transfer and Southern Union. It’s a 57 percent premium over Southern Union’s closing price on June 15, the day before the companies first announced the takeover. “Our ability to be creative with our structure has improved the tax efficiency, therefore allowing us to increase our price,” Energy Transfer Chairman Kelcy Warren said in the statement. Williams and Energy Transfer are vying for Houston-based Southern Union’s 15,000 miles (24,000 kilometers) of natural-gas pipelines, which can connect new fields in Texas and Oklahoma to markets in the U.S. Midwest and Florida. ..." ---------------------------------------------------------------------------------------------------------------------- WMB's previous offer is all cash and appears a safer bet than ETE's raised bid. This should help raise the value of all those other pipeline companies like EP, SEP and many others discussed here over the last year. EKS

To: E_K_S who wrote (43324)	12/12/2012 8:22:41 PM
From: E_K_S	Respond to of 78520

Access Midstream Partners, L.P. (NYSE: ACMP) Williams Companies, Inc. (NYSE: WMB) goo.gl Williams Bets $2.4 Billion on Pipe Venture Chesapeake Quit Williams Cos. (WMB), the third-largest U.S. pipeline company, is betting as much as $2.4 billion it can profit from a shale-pipeline partnership that Chesapeake Energy Corp. (CHK) exited earlier this year. Williams agreed to acquire a 25 percent stake in Access Midstream Partners LP (ACMP) and 50 percent of its general partner, the Tulsa, Oklahoma-based company said in a statement yesterday. Chesapeake shed its stake in the Access pipeline venture, formerly known as Chesapeake Midstream, in June as the natural gas producer auctioned properties from Appalachia to the Rocky Mountains to plug a cash flow shortfall. Williams Prices Public Offering of Common Stock Williams (WMB) today announced that it priced a public offering of 46,500,000 shares of its common stock at $31.00 per share. Williams also granted the underwriters a 30-day option to purchase up to an additional 6,975,000 shares of common stock.Williams intends to use the net proceeds from the offering to finance a portion of its investments in Access Midstream Partners GP, L.L.C. and Access Midstream Partners, L.P. that were previously announced on December 11, 2012. -------------------------------------------------- At the current price ACMP does not look that cheap. Long term it's probably a good deal. I still own WMB from shares I bought in 2009 & 2010 at an avg price of $15.00/share. Those buys represent a 1.6% portfolio position. I probably should add to my current position w/ the secondary just announced but I think I am going to start a new position in SEP instead. The NG pipeline theme is starting to gain traction w/ two huge pipeline deals in the last two days: SE - Spectra Energy - Acquisition Of Express-Platte Pipeline System and WMB's 50% interest in ACMP for 50% of the CHK pipeline asset. EKS