Oneok-Southwest Gas merger called off

Southwest Gas Corp. has sued Oneok Inc. for unspecified damages after Oneok abruptly terminated a pending $1.8 billion merger between the two companies rather than risk taking on a $700 million lawsuit against Southwest Gas by rejected suitor Southern Union Co.In its suit filed Jan. 24 in the US District Court in Phoenix, Southwest Gas accused Tulsa-based Oneok of breach of contract and fraud in its inducement and actions related to the merger agreement that would have formed the largest stand-alone gas distribution company in the US, with 2.6 million customers (OGJ, Mar. 1, 1999, p. 27).Southwest Gas also sued Southern Union, an Austin natural gas distributor, seeking unspecified damages...

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