Energy Transfer Equity

:

Southern Union

Dealogic Deal #  :

750748

Data as of :

6/17/2011

Target

Acquiror

Dates & Values

Southern Union

Energy Transfer Equity

Target:

100

% stake

Buying:

100

% stake

Rumored

-

Deal Value $m

7,902.6

NY

SUG

125

m shares outstanding

Public (Listed)

Announced

16th Jun 2011

Value ex Debt $m

4,167.4

United States

United States

Utility & Energy

Utility & Energy

Expected

1Q 2012

Consideration

Evercore | Advisor

Credit Suisse | Advisor

Completed

-

Roberts & Holland  | Attorney

Latham & Watkins | Attorney

Locke Lord   | Attorney

Bingham McCutchen | Attorney

Withdrawn

-

Termination Fee, Target $m

tbd

Termination Fee, Acquiror $m

tbd

Financials

31st Mar 2011

Balance Sheet

Debt/Equity:

2.2

Timeline Events

Premiums & Multiples

Initial Offer

$32.70

Current Offer

$32.70

Income Statement

Cash Flows

Operations $m

458

Profitability

Profit Margin

14%

Return on Equity

9%

League Table Impact

Sector Trend

2011 YTD Announced Global M&A by Deal Value, $bn

Monthly Announced Global M&A, $bn:

Utility & Energy

1

Goldman Sachs

358.0

2

JPMorgan

305.0

3

Credit Suisse

289.4

4

Morgan Stanley

247.9

5

Citi

222.2

6

BOA Merrill Lynch

207.6

7

Deutsche Bank

192.8

8

Barclays Capital

191.8

9

UBS

156.4

10

Lazard

142.4

12

Evercore

89.5

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