Laclede Group to Buy Two Southern Union Utilities for $1.02B

Laclede (NYSE: LG) will buy two of Southern Union Co.'s utilities, Missouri Gas Energy and New England Gas Co., for $1.02 billion.

Energy Transfer Equity's takeover of pipeline operator Southern Union Co closed early this year.

The deal announced Monday also includes the assumption of about $20 million in debt, so the companies value it at nearly $1.04 billion.