Antitrust concerns may have moved to the back burner with news that Energy Transfer Equity is moving closer to a purchase of the natural-gas pipeline company serving Florida.
The Texas-based ETE said it expects to acquire Southern Union Co. in the first quarter of 2012, pending shareholder approval and certain other regulatory approvals.
ETE last week announced that a federally required waiting period had cleared, thereby satisfying a key regulatory condition to the consummation of the proposed merger.
Tulsa-based Williams Cos. also was in the running for Southern Union, and Williams' interest raised antitrust concerns as the company owns another natural-gas pipeline feeding Central Florida.
Despite the ETE announcement -- which followed the firm's bid of $9.4 billion in cash and stock -- a Williams spokesman suggested Monday that an ETE-Southern Union tie-up was not a done deal.
Chris Stockton said "we're still evaluating" the situation, declining to elaborate.
State Sen. Mike Fasano, R-New Port Richey, and Floridians for Government Accountability previously expressed concern about antitrust implications.
Chairman James Hart said FGA was "closely monitoring" the negotiations for the Florida Gas Transmission pipeline.
"Should a single company own both pipelines, the specter of monopolistic practices could lead to rising energy costs for our state," Hart said.
Southern Union owns and operates one of the nation's largest natural-gas pipeline systems, with more than 20,000 miles of gathering and transportation pipelines.
Acquiring Southern Union would make either ETE or Williams a top-tier natural-gas conveyer.
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Contact Kenric Ward at kward@sunshinestatenews.com or at (772) 801-5341.
