Energy Transfer Equity (NYSE:ETE) has raised its offer to acquire Southern Union (NYSE:SUG) to $5.1 billion. Terms of the deal give Southern Union stockholders the option of selling their common shares for $40 each, in cash, or receive 0.903 of a common unit of Energy Transfer Equity stock. Last month Williams Companies (NYSE:WMB) made an offer of $39 a share for Southern Union.
Profit in the Summer: Wall St. Cheat Sheet’s newest Feature Trades of the Month!
OM Group (NYSE:OMG) has agreed to buy Vacuumschmelze GmbH, a German company that manufactures advanced magnetic materials and related products, in a 700 million euro deal, including $50 million in common stock equity.
Pfizer (NYSE:PFE) drug Chantix, used to help smokers quit, has been linked to a heightened risk of heart attack, according to a recent medical journal report.
Exxon Mobil (NYSE:XOM) is working to cleanup a spill of crude oil in Montana. The oil leaked from a damaged pipeline on July 2. Current estimates have the spill at up to 1,000 barrels, and oil has flowed for miles down Montana’s Yellowstone River.
AirTran Airways has announced fare reductions for travel to all of the airline’s destinations. The special fares are available for purchase between now and July 14, and are good for travel dates between August 23 and December 14, with some exemptions. AirTran is a subsidiary of Southwest Airlines Co. (NYSE:LUV).