I heard reports this morning that SGU Hedge Funds, which went public with their dislike and desired ousting of SGU CEO and management earlier this week, are in contact with Inergy, LLP about a possible complete acquisition of the remainder of SGU/StarGas since they already bought the propane business in November as Inergy has expressed interested in expanding into feul heating oil in the NE and Mid Atlantic region.
I guess NRGY has entered the acquisition sweepstakes for SGU. NRGY as buyer makes a lot of sense considering their business model, plans and recent propane deal with SGU. I know major hedge fund of SGU is attempting to negotiate acquistion deal of SGU or was reported that they may even take SGU private. I like the idea of NRGY buying SGU. Hope this story develops further:)