DTE Energy Co.
Diversified company opened a public offering of 12 million equity units issued in a stated amount of $50. The proceeds will be used to purchase midstream natural gas assets. The $50 issuance will consist of a contract to purchase common stock and an undivided beneficial ownership interest in a remarketable $1,000 senior note. The underwriters will likely receive an option to purchase 1.5 million additional units to cover overallotments. Wells Fargo Securities, Citigroup and J.P. Morgan are joint book-running managers.