Find Matching Businesses for panhandle-eastern-pipe-line-co-lp from 15 MIllion Business Records Panhandle has about 51.5 million shares outstanding. Its FERC code is 28. Its principals, Cyril Wagner Jr. and Jack E. Brown, are longtime friends of T. Boone Pickens and have been key investors in some of his takeover deals. In July, Wagner & Brown offered to buy Panhandle Eastern for $2.2 billion. See the article in its original context from. The Panhandle Eastern Corporation, the Houston-based pipeline company that last month spurned a takeover offer, said yesterday that it would … Occasionally the digitization process introduces transcription errors or other problems; we are continuing to work to improve these archived versions. Pipeline company analysts said the recent takeover offer, from Wagner & Brown, the independent oil and gas company, was a key factor in the spinoff. Anadarko ''has been somewhat buried in Panhandle,'' said James L. Carroll, of Paine Webber Inc. ''What they're trying to do is improve shareholder value in the face of a lot of pressure from Wagner & Brown.''. To preserve these articles as they originally appeared, The Times does not alter, edit or update them. Mr. Hunsucker said the spinoff would be achieved by distributing Anadarko's common stock on the basis of one Anadarko share for each Panhandle share. Under the recent Federal decision, the price will rise to market levels. Anadarko, in a statement released simultaneously, said that its board would consider establishing an initial quarterly dividend of 7.5 cents a share, effective in the fourth quarter, for an indicated annual payment of 30 cents a share. Listen to the audio pronunciation of Panhandle Eastern Corporation on pronouncekiwi. Panhandle has major reserves in the Hugoton natural-gas field in Kansas, where the natural gas is priced below market levels because of the Federal price controls. TimesMachine is an exclusive benefit for home delivery and digital subscribers. Mr. Hunsucker said that Panhandle's board would consider at its October meeting adjusting Panhandle's quarterly dividend from the current 57.5 cents a share, to 50 cents a share, effective in the fourth quarter, because of the spinoff. The bulk of this material consists of business records of the PanEnergy Corp., relating in particular to the records of the Panhandle Eastern Corp. and Texas Eastern Corp. from the 1920s to the 1990s. Texas Eastern Corp., which recently spurned an unsolicited, $2.55 billion takeover offer by Coastal Corp., agreed Monday to be acquired by Panhandle Eastern Corp. in … The company is headquartered in Houston, Texas. Mr. Carroll said that another reason Panhandle would consider the Anadarko spinoff attractive stems from the recent Federal decision to free previously controlled categories of natural gas, which would allow the gas to be priced at market levels. Despite the widespread feeling that Wagner & Brown might be working with Mr. Pickens to buy Panhandle, they stated that they had made the offer on their own behalf. Panhandle Eastern Pipe Line Company, LP; Red Bluff Express Pipeline, LLC; Regency Intrastate Gas LP; Rover Pipeline LLC; Sea Robin Pipeline Company, LLC; Stingray Pipeline Company, L.L.C. The collection includes records about building projects, such as the Big Inch and Little Big Inch pipelines, Arctic-Alaskan pipelines, and downtown Houston development. This is a digitized version of an article from The Times’s print archive, before the start of online publication in 1996. [1] Its FERC code is 28. Robert D. Hunsucker, Panhandle's chief executive and president, said that the spinoff was ''the most attractive among the alternatives that have been studied to enhance value for our stockholders, because the spinoff can be done on a tax-free basis and does not encumber either business with new debt.''. Subjects covered include Panhandle Eastern Corporation, Texas Eastern Corporation, natural gas pipelines, and government regulation of the energy industry. Sign in to disable ALL ads. Panhandle Eastern Pipe Line Company, LP is a natural gas pipeline in the United States which brings natural gas from the panhandle region of Oklahoma east through the Midwest to supply Indiana and Ohio. Panhandle Eastern Pipe Line Company, LP is a natural gas pipeline in the United States which brings natural gas from the panhandle region of Oklahoma east through the Midwest to supply Indiana and Ohio.It is owned by Panhandle Energy - Southern Union Gas Company - Energy Transfer MLP. Thank you for helping build the largest language community on the internet. COMPANY NEWS; Panhandle Plans Anadarko Spinoff. The company is headquartered in Houston, Texas. It is owned by Panhandle Energy - Southern Union Gas Company - Energy Transfer MLP. The Panhandle Eastern Corporation, the Houston-based pipeline company that last month spurned a takeover offer, said yesterday that it would spin off its oil and gas subsidiary, the Anadarko Petroleum Corporation, to Panhandle's stockholders. Southwest Gas Storage Company; Trunkline Gas Company, LLC; ETC Tiger Pipeline, LLC; Trans-Pecos Pipeline, LLC; Transwestern Pipeline Company, LLC [1], https://en.wikipedia.org/w/index.php?title=Panhandle_Eastern&oldid=974634194, Creative Commons Attribution-ShareAlike License, This page was last edited on 24 August 2020, at 03:23.

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