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Here's Why Energy Transfer (ETE) Stock Is Surging Today

NEW YORK (TheStreet) -- Energy Transfer Equity (ETE - Get Report) stock is rising by 9.26% to $9.79 on heavy trading volume on Monday afternoon, as the pipeline company's lawyers might be unable to deliver a tax opinion required for its proposed takeover of rival Williams Cos. (WMB).

The companies need a so-called "721 Opinion" from Latham & Watkins to complete their merger, and the law firm has indicated that it wouldn't be able to deliver the opinion if the deal were to close as of today, according to an SEC filing, Bloomberg reports.

Energy Transfer Equity...