Business Services Industry
Sale of Pennsylvania Enterprises Inc. Likely to Benefit Shareholders.
Knight Ridder/Tribune Business News, June, 1999 by Turfa, Pamela C.
Knight Ridder/Tribune Business News
Jun. 10 -- In the proposed sale of Pennsylvania Enterprises Inc., investors would exchange their PEI shares for a piece of a company whose common stock price increased 60 percent last year.
The increase outpaced all natural gas distributors in Southern Union Co.'s peer group, President and Chief Operating Officer Peter H. Kelley reports in a message posted on the company's web site.
In addition, Southern Union's stock performance is up more than 400 percent percent since February 1990 and 230 percent over the past five years.
Southern, based in Austin, Texas, has increased the value of its stock by purchasing other utilities -- a philosophy the board intends to continue "when appropriate and if...
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