Southern Union investors get OK to present board nominees; pending lawsuit dropped

By Lisa Kerner

Charlotte, N.C., Jan. 18 - Southern Union Co. agreed that it cannot use its bylaws to challenge the timing or form of director nominations submitted by Castlerigg Master Investments, according to a schedule 13D filed with the Securities and Exchange Commission.

Castlerigg, with a 9% stake, and Sandell Asset Management Group, with a 9.8% stake in Southern Union, filed a complaint against the Houston gas company on Dec. 5.

The investors have dismissed a pending lawsuit and will present their nominees at Southern Union's 2007 annual meeting, according to the filing.

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