8-K 1 eyconsent.txt FORM 8K E&Y CONSENT ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) June 6, 2003 SOUTHERN UNION COMPANY (Exact name of registrant as specified in its charter) Delaware 1-6407 75-0571592 (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) One PEI Center 18711 Wilkes-Barre, Pennsylvania (Zip Code) (Address of principal executive offices) Registrant's telephone number, including area code: (570) 820-2400 ================================================================================ ITEM 5. OTHER EVENTS As previously reported, Southern Union Company ("Southern Union" or the "Company") and CMS Gas Transmission Company, a subsidiary of CMS Energy Corporation entered into an Amended and Restated Stock Purchase Agreement on May 12, 2003 providing for, among other things, Southern Union's purchase of Panhandle Eastern Pipe Line Company and its subsidiaries (collectively, "Panhandle"). The transaction has been approved by the boards of directors of all companies and has received all required regulatory approvals. Closing is expected in June 2003. In connection with the above-mentioned transaction, certain historical financial statements were attached to a Current Report on Form 8-K filed by the Company on May 30, 2003. Attached hereto is the Consent of Independent Public Accountants, Ernst & Young LLP, related to those financial statements and the Company's concurrent offering of common stock and equity units. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibit No. 23.1 Consent of Independent Public Accountants, Ernst & Young LLP. This release and other Company reports and statements issued or made from time to time contain certain "forward-looking statements" concerning projected future financial performance, expected plans or future operations. Southern Union Company cautions that actual results and developments may differ materially from such projections or expectations. Investors should be aware of important factors that could cause actual results to differ materially from the forward-looking projections or expectations. These factors include, but are not limited to: weather conditions in the Company's service territories; cost of gas; regulatory and court decisions; the receipt of timely and adequate rate relief; the achievement of operating efficiencies and the purchase and implementation of any new technologies for attaining such efficiencies; impact of relations with labor unions of bargaining-unit employees; the effect of any stock repurchases; and the effect of strategic initiatives (including: any recent, pending or potential acquisitions or merger, recent corporate restructuring activities, any sales of non-core assets, and any related financing arrangements including refinancings and debt repurchases) on earnings and cash flow. -------------------------------------------------------------------------------- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SOUTHERN UNION COMPANY ---------------------- (Registrant) Date June 6, 2003 By DAVID J. KVAPIL ------------------ --------------------------- David J. Kvapil Executive Vice President and Chief Financial Officer EXHIBIT INDEX Exhibit Number Description -------------- ------------------------------------------------------------- 23.1 Consent of Independent Public Accountants, Ernst & Young LLP. EXHIBIT 23.1 CONSENT OF INDEPENDENT AUDITORS We consent to the reference to our firm under the caption "Experts" in the Registration Statement (Form S-3 No. 333-102388) and related Prospectus and Prospectus Supplements in connection with Southern Union Company's concurrent offerings of up to 10,925,000 shares of Common Stock and 2,500,000 of Equity Units and to the incorporation by reference therein of our report dated March 14, 2003 with respect to the consolidated financial statements of Panhandle Eastern Pipe Line Company included in its Annual Report (Form 10-K) for the year ended December 31, 2002 filed as Exhibit No. 99.1 to the Current Report (Form 8-K) filed with the Securities and Exchange Commission on May 30, 2003. ERNST & YOUNG LLP Houston, Texas June 4, 2003