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Stock Market & Financial Investment News

News Breaks
December 17, 2012
10:55 EDTLG, ETP, ETEMoody's changes Laclede Gas's rating outlook to Negative
Moody's Investors Service changed the Laclede Gas Company and its parent Laclede Group's rating outlook to negative from stable. These rating actions follow the announcement that LG will acquire Missouri Gas Energy and New England Gas, two gas distribution assets from Energy Transfer (ETE, ETP), for $1.015B in cash plus the assumption of $20M of debt. Subject to customary approvals, including those of the Missouri Public Service Commission and the Massachusetts Department of Public Utilities, LG expects to close the transaction by September 30, 2013. Moody's expects to resolve the negative outlook late in 2013, when the requisite approvals appear certain and LG's permanent financing plan is set.
News For LG;ETE;ETP From The Last 14 Days
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July 2, 2015
13:11 EDTETP, ETEEnergy Transfer refuses 'standstill' clause in Williams auction, Bloomberg says
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12:37 EDTETEWilliams said to have contacted over 15 potential suitors, Bloomberg reports
Energy Transfer Equity's (ETE) CEO is said to push back against Williams' (WMB) auction rules, according to Bloomberg.
June 26, 2015
16:32 EDTETEStocks end week lower with Greece still searching for deal
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07:51 EDTETEEnergy Transfer Equity weakness creates buying opportunity, says Wells Fargo
After meeting with ETE's (ETE) management, Wells Fargo says that, in a worst case scenario, an acquisition of Williams (WMB) would not materially impact ETE's growth. However, the firm thinks the merger could boost the company's results if it can extract commercial synergies from the deal. Wells says that ETE wants to carry out the merger in order to boost its growth in 2019 and beyond. But ETE also believes that it could add $3B-$5B of additional organic growth projects if it acquires Williams, while generating more cash flow from Williams' existing projects, according to the firm.
June 25, 2015
10:00 EDTLGOn The Fly: Analyst Downgrade Summary
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06:40 EDTETEWilliams downgraded to Neutral from Overweight at JPMorgan
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06:37 EDTLGLaclede downgraded to Underweight from Neutral at JPMorgan
JPMorgan downgraded Laclede to Underweight saying rate case uncertainty in 2017 and the recent appreciation in shares limit upside potential going forward. the firm cut its price target for shares to $52 from $55.
June 24, 2015
15:47 EDTETEBankers see Energy Transfer having upper hand for Williams, dealReporter says
Energy industry bankers believe Energy Transfer Equity (ETE) has a good chance of winning its hostile bid for Williams (WMB), with one guessing Williams is likely to sell at a higher offer, but still to Energy Transfer, and another believing Energy Transfer will likely have to tweak the offer terms to change Williamsí mind, said dealReporter, according to contacts. Both bankers referenced in the report said other suitors are likely to emerge, with Kinder Morgan (KMI) and Enterprise Products Partners (EPD) named as being "equally capable" of pursuing a deal.
June 23, 2015
07:36 EDTETEEnergy Transfer Equity bid for Williams positive, says RBC Capital
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07:24 EDTETECredit Suisse to hold a conference
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