Energy: The 37,000-Mile Deal

The 37,000-Mile Deal

! The new company's mammoth pipes will cover 37,000 miles, stretching from Canada to Texas, from California to Florida. InterNorth of Omaha announced last week that it would buy Houston Natural Gas for $2.26 billion in a friendly transaction that will create the longest natural gas pipeline system in the U.S. The combined network will deliver roughly 9% of the gas consumed in the U.S.

The natural gas pipeline industry is now experiencing a flurry of mergers in the wake of congressional deregulation of its business. Only two months ago, two other companies, Coastal and American Natural Resources, agreed to join...

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