Cakes

A big fish gobbled up yet another small fish in the Northeastlast week as Southern Union Co. (SU), the spurned suitor ofSouthwest Gas, announced it agreed to purchase Providence Energy(ProvEnergy) for a total transaction value of $400 million. Thedeal, which SU expects to close in nine to 12 months, representsSU’s third Northeast utility purchase this year. If all these dealsare completed, Southern Union will serve 1.5 million customers inRhode Island, Massachusetts, Pennsylvania, Texas, Missouri andFlorida.