Aug 24 (Reuters) - Pipeline company Energy Transfer Equity
LP ETE.N is bidding for Magnum Hunter Resources Corp's MHR.N
stake in natural gas gathering unit Eureka Hunter Holdings,
Bloomberg reported, citing people familiar with the matter.
Oil and natural gas producer Magnum Hunter, which has been
struggling with weak natural gas prices, said in June that it
expected to raise $600 million-$700 million by selling its 45.53
percent stake in Eureka Hunter.
Magnum Hunter began working with the Bank of Montreal to
auction its stake in Eureka Hunter after Energy Transfer made an
unsolicited bid for the assets earlier this year, Bloomberg
reported on Monday.
Magnum Hunter reached out to Crestwood Midstream Partners LP
and Summit Midstream Partners LP to gauge their interest in the
unit, Bloomberg reported, citing the people. (http://bloom.bg/1h9eo5K)
Morgan Stanley (NYSE:MS)'s MS.N infrastructure investing arm, Morgan
Stanley Infrastructure, owns a majority stake in Eureka Hunter.
Energy Transfer has also been pursuing bigger rival Williams
Cos Inc WMB.N .