Transfer's

Williams latest bid announced Thursday tops Energy Transfer's previous $5.1 billion cash-and-stock offer and its own previous bid of $5 billion in cash.

Williams Lifts Bid for Southern Union Ben Lefebvre 2011

It might be difficult for Williams to go any higher than its current 10% premium to Energy Transfer's current offer, said BMO Capital Markets analyst Carl Kirst .

Williams Lifts Bid for Southern Union Ben Lefebvre 2011

Enterprise and Energy Transfer's pipeline would create an alternative route to the Gulf and avoids some of the environmental issues that have become stumbling blocks for Keystone XL, which is a much more ambitious pipeline project that involves further increasing imports from Canada's oil sands, one of the biggest single sources of U.S. oil imports.

Firms to Build Pipeline Rivaling TransCanada Plan Jerry A. DiColo 2011

Williams lost a summer bidding war to Energy Transfer Equity over natural-gas pipeline operator Southern Union Co. Southern, whose shareholders agreed to Energy Transfer's $5.7 billion offer, has yet to schedule a shareholder vote to approve the deal.

Williams Cos. Chooses Spinoff Over IPO Ben Lefebvre 2011

Mr. Armstrong said that Energy Transfer's bid is "very difficult to understand."

Williams Makes a Bid for Southern Union Ben Lefebvre 2011

Under Energy Transfer's latest offer, Southern Union holders can elect to receive a mix of cash and Energy Transfer common units, the price of which has dropped by more than 10% since July 19.

Williams Renews Push to Buy Southern Union Ben Lefebvre 2011

Because the Energy Transfer and Southern Union agreement already has gained regulatory approval and agreement from Southern Union's board, the plea from Williams is unlikely to change the minds of Southern shareholders who already may prefer Energy Transfer's offer, Morningstar analyst Avi Feinberg said.

Williams Renews Push to Buy Southern Union Ben Lefebvre 2011

Energy Transfer's mid-June offer of $4.2 billion for Southern sparked a bidding war with Williams that eventually added $1.5 billion to Southern's price tag.

Williams Renews Push to Buy Southern Union Ben Lefebvre 2011

Williams noted that dramatic movements in the stock market could decrease the real value of Energy Transfer's latest offer in the near future.

Williams Renews Push to Buy Southern Union Ben Lefebvre 2011

Both Williams' and Energy Transfer's offers include debt assumption of $3.7 billion.

Williams Makes a Bid for Southern Union Ben Lefebvre 2011