Williams To Acquire MountainWest Pipelines From Southwest Gas In $1.5 Bln Deal

RTTNews | 890 dagar sedan
Williams To Acquire MountainWest Pipelines From Southwest Gas In $1.5 Bln Deal

(RTTNews) - Williams Cos. (WMB) announced Thursday that it has reached an agreement to acquire MountainWest Pipelines Holding Co. from Southwest Gas Holdings, Inc. (SWX), in a transaction including $1.07 billion of cash and $0.43 billion of assumed debt, for an enterprise value of $1.5 billion.

MountainWest comprises roughly 2,000-miles of interstate natural gas pipeline systems primarily located across Utah, Wyoming and Colorado, totaling approximately 8 Bcf/d of transmission capacity.

MountainWest also holds 56 Bcf of total storage capacity, including the Clay Basin underground storage reservoir, providing valuable service to western markets. The acquisition price represents an approximate 8x estimated 2023 EBITDA multiple.

The bolt-on acquisition expands Williams' midstream infrastructure footprint while increasing business mix of FERC-regulated natural gas transmission and storage.

The transaction is expected to close in 2023, following satisfaction of customary closing conditions, including regulatory approvals.

read more
Southwest Gas Q4 Results Top Estimates

Southwest Gas Q4 Results Top Estimates

Southwest Gas Holdings, Inc. (SWX) reported Wednesday net income for the fourth quarter of $72.87 million or $1.01 per share, compared to a net loss of $280.58 million or $4.18 per share in the prior-year quarter.
RTTNews | 450 dagar sedan
Southwest Gas Q2 Results Top Estimates

Southwest Gas Q2 Results Top Estimates

Southwest Gas Holdings, Inc. (SWX) reported Wednesday net income for the second quarter of $28.88 million or $0.40 per share, compared to a net loss of $6.58 million or $0.10 per share in the prior-year quarter. Excluding items, adjusted earnings per share were $0.47 per share, compared to $0.23 per share last year.
RTTNews | 653 dagar sedan
Southwest Gas Prices Of 3.58 Mln Share Underwritten Public Offering At $60.12/share

Southwest Gas Prices Of 3.58 Mln Share Underwritten Public Offering At $60.12/share

Southwest Gas Holdings, Inc. (SWX) announced Wednesday that it has priced an underwritten public offering of 3.58 million shares of its common stock at a public offering price of $60.12 per share, for net proceeds, after the underwriting discount and before the estimated expenses of the offering payable by the Company, of approximately $207.7 million.
RTTNews | 807 dagar sedan
Euro Slips On Trump's Tariff Proposal

Euro Slips On Trump's Tariff Proposal

The euro fell against its major counterparts on Friday, as President Donald Trump proposed tariffs on imports from the European Union starting on June 1.
RTTNews | 12h 38minuter sedan
Swiss Market Ends Weak On Tariff Concerns

Swiss Market Ends Weak On Tariff Concerns

After opening on a positive note and staying above the flat line till about an hour past noon, the Switzerland market tumbled on Friday, hurt by U.S. President Donald Trump's threat that imports from the European Union will face 50% tariffs from June 1st.
RTTNews | 13h 30minuter sedan
European Stocks Closed Weak On Trump's Fresh Tariff Threat

European Stocks Closed Weak On Trump's Fresh Tariff Threat

European stocks closed on a weak note on Friday despite staging a fairly strong recovery past mid afternoon. After staying modestly higher till noon, the major European markets tumbled after U.S. President Donald Trump threatened to impose 50% tariffs on imports from the European Union from June 1st.
RTTNews | 13h 46minuter sedan
TSX Recovers After Early Setback; Materials Stocks Move Higher

TSX Recovers After Early Setback; Materials Stocks Move Higher

After a weak start and a subsequent drop to lower levels, the Canadian market recovered well and is down just marginally a little past noon on Friday. The early setback was due to U.S. President Donald Trump's threat that 50% tariffs will be imposed on imports from the European Union beginning June 1st.
RTTNews | 14h 54minuter sedan
U.S. New Home Sales Spike From Downwardly Revised Level In April

U.S. New Home Sales Spike From Downwardly Revised Level In April

The Commerce Department released a report on Friday showing new home sales in the U.S. in the month of April spiked compared to a significantly downwardly revised level in March. The report said new home sales soared by 10.9 percent to an annual rate of 743,000 in April after jumping by 2.6 percent to a downwardly revised rate of 670,000 in March.
RTTNews | 16h 28minuter sedan