Legal wrangling continues over merger

ONEOK said the order by Judge Sven Erik Holmes bars Southern Union Co. from trying to influence a shareholder vote on ONEOK's merger with Southwest, which Southwest has accepted.

ONEOK said the order also forbids Southern Union from trying to influence the management or board of directors of Southwest.

Finally, ONEOK said it asked the Missouri Public Service Commission to review Southern Union's effort to buy Southwest Gas, saying Missouri law requires Southern Union to gain Missouri's approval since Southern Union operates in Missouri.

Southern Union is offering $33.50 per share for Southwest, ONEOK is offering $30. Southwest says it rejected Southern Union's offer because of questions about the ability of Southern Union to finance and complete the deal.

archive