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Stock Market & Financial Investment News

News Breaks
July 1, 2014
09:27 EDTRGP, ETE, EROCRegency closes on acquisition of Eagle Rock Energy midstream business
Regency Energy Partners (RGP) announced that it has closed on its previously announced acquisition of the midstream business of Eagle Rock Energy (EROC) for a combination of cash, Regency common units and assumption of indebtedness. Regency issued approximately 8.2M Regency common units to Eagle Rock and assumed approximately $500M of outstanding Eagle Rock senior notes and exchanged those notes into Regency senior notes. Regency will fund the cash consideration with proceeds from a $400M private placement of Regency common units to a subsidiary of Energy Transfer Equity (ETE), the owner of Regency’s general partner, and borrowings under Regency’s revolving credit facility.
News For RGP;EROC;ETE From The Last 14 Days
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July 2, 2015
13:11 EDTETEEnergy 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
06:40 EDTETEWilliams downgraded to Neutral from Overweight at JPMorgan
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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 Williams’ 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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