PHOENIX, Aug. 9 /PRNewswire-FirstCall/ -- Southwest Gas Corporation
(NYSE: SWX) and ONEOK, Inc. (NYSE: OKE) announced today that they have settled
all claims against each other related to the merger litigation pending between
them in U.S. District Court in Phoenix, Arizona.
ONEOK will pay Southwest $3 million in the settlement. ONEOK and
Southwest will release each other from all legal claims between them. ONEOK
and Southwest will further release each other from any right of contribution
and indemnity which may result from Southern Union Company's (NYSE: SUG) legal
action against either party.
This settlement, coupled with Southwest's recent settlement with Southern
Union, ends Southwest's involvement in this complex litigation. Trial of
Southern Union's remaining claims against ONEOK and other parties is scheduled
to commence in Phoenix, Arizona, on October 15, 2002.
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SOURCE Southwest Gas Corporation; ONEOK, Inc.
CONTACT: Michael J. O'Connor, +1-602-262-5889, or Thomas R. Sheets, +1-702-876-7337, both of Southwest Gas Corporation