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Morning Market Snapshot: July 5, 2011
Good Morning. It’s Tuesday, July 5, 2011. At this hour, U.S. equity futures are higher. Overseas, the Asian markets were mixed, while the European markets are mixed. The Saint Joe Co. (NYSE:JOE) and Bruce R. Berkowitz are the subjects of SEC investigation. Energy Transfer Equity (NYSE:ETE) and Southern Union Co. (NYSE:SUG) entered into an amended and restated merger agreement under which ETE will acquire SUG for $8.9B, including $5.1B in cash and ETE common stock. In connection with the revised merger agreement, Energy Transfer Equity announced a binding agreement for the drop down of Southern Union Co.'s 50% interest in Citrus Corp., which owns 100% of the Florida Gas Transmission pipeline system, to Energy Transfer Partners, L.P. (NYSE:ETP), a publicly traded partnership, for $1.9B in cash. Exxon Mobil Pipeline (NYSE:XOM) continues cleanup operations in Montana. Saks (NYSE:SKS) announced plans for new Saks Fifth Avenue in Kazakhstan. Convio (NASDAQ:CNVO) expands to U.K with acquisition of Baigent Digital.
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Date Found: July 06, 2011
Date Produced: July 06, 2011
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