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November 15, 2009

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Nevada regulators OK utility merger

Tuesday, June 22, 1999 | 11:45 a.m.

Under an agreement approved Monday, ONEOK will write off an estimated $131 million in merger costs and won't pass those costs on to Nevada ratepayers.

California and Arizona regulators have yet to rule on the deal and it still must be approved by Southwest shareholders. A competing bid offering $80 million more for Southwest is on the table. But Southwest has rejected as not feasible that bid by Southern Union Co. of Austin, Texas.

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