Southwest Gas to Pay Southern Union $17.5 Million to Settle Lawsuit
PHOENIX, Aug. 7 /PRNewswire-FirstCall/ -- Southern Union Company (NYSE: SUG) and Southwest Gas Corporation (NYSE: SWX) announced today that they have settled all claims against each other related to the merger litigation pending between them in U.S. District Court in Phoenix, Arizona.
Southwest will pay Southern Union $17.5 million in the settlement. Both parties will continue to pursue their respective claims against ONEOK (NYSE: OKE).
Trial of Southern Union's and Southwest's claims against ONEOK is scheduled to commence in Phoenix on October 15, 2002.
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SOURCE Southwest Gas Corporation
Web site: http: //www.swgas.com
CONTACT: Michael J. O'Connor, +1-602-262-5889; or Thomas R. Sheets, +1-702-876-7337, both for Southwest Gas Corporation