Oneok calls off merger with Southwest Gas

(Tulsa-AP) -- Tulsa-based Oneok (won-OKE) has decided not to go forward with a planned merger with Southwest Gas.<br><br>Oneok C-E-O Larry Brummett says there's presently too much financial risk associated

Friday, January 21st 2000, 12:00 am

By: News On 6

(Tulsa-AP) -- Tulsa-based Oneok (won-OKE) has decided not to go forward with a planned merger with Southwest Gas.

Oneok C-E-O Larry Brummett says there's presently too much financial risk associated with Southwest Gas.

Brummett is referring to pending claims against Southwest by a Texas company that made an unsuccessful bid to buy Southwest.

The lawsuit was recently highlighted by Arizona regulators as a reason not to recommend approval of the merger.

The merger had been given unanimous regulatory approval in Nevada and had been recommended for approval in California.

The merger of Oneok and Las Vegas-based Southwest would have created the nation's largest stand-alone natural gas distribution
network.