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  5. 925 S.W.2d 640 (1996)
 

TENNECO INC. v. ENTERPRISE PRODUCTS CO.

No. 95-0978.

925 S.W.2d 640 (1996)

TENNECO INC., Tenneco Oil Company, Enron Natural Gas Liquids Corporation, Enron Liquids Pipeline Company, Enron Liquids Pipeline, L.P., and Enron Corp., Petitioners, v. ENTERPRISE PRODUCTS COMPANY, Meridian Oil Hydrocarbons, Inc., Union Pacific Fuels, Inc., and Texaco Exploration and Production, Inc., Respondents.

Supreme Court of Texas.

Decided July 8, 1996.

Rehearing Overruled August 16, 1996.

Attorney(s) appearing for the Case

Jack D. Ballard, Rosemarie Donnelly, Richard P. Keeton, Thomas M. Farrell, Solace H. Kirkland, Houston, for petitioners.

Murray Fogler, Albert R. Lohse, Houston, for respondents.

ABBOTT, Justice, delivered the opinion of the Court, in which PHILLIPS, Chief Justice, and GONZALEZ, HECHT, CORNYN, ENOCH, SPECTOR and BAKER, Justices, join.

This case poses a question of first impression concerning the effect of a stock sale on a right of first refusal. The dispute involves ownership rights in a natural gas fractionation plant. Respondents filed this lawsuit, contending that three transactions among several Tenneco and Enron entities violated the...

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