Question-and-Answer Session
Thank you, sir. [Operator Instructions] We will take our first question from Shneur Gershuni from UBS..
Shneur Gershuni - UBS
Hi, good afternoon guys.
Lon R. Greenberg - Chairman and Chief Executive Officer
Hi.
Shneur Gershuni - UBS
A couple of questions... I guess the first one is just a big picture question. One, with most recent acquisition are you done making acquisitions for this year and I guess a second part of that question was... given the right price are you willing to do something significantly larger than the most recent acquisitions?
Lon R. Greenberg - Chairman and Chief Executive Officer
Yeah. Let me talk about are we done for the year, which is, there are those who suggest whatever done. You know our policy is to explore acquisitions that makes sense for the company, within our vision that are accretive and beneficial to our shareholders. So, I can tell you we are constantly in general on the look for acquisitions, but I can't comment on any specific acquisition that we may or may not be looking at, but it is our policy to be active in the acquisition area. With regard to scale, we are mindful of scale, we've said that many times before. We certainly would look at transactions larger than TPL Gas or even the Southern Union transaction because as our scale grows, those transactions are the same scale that they would be three, four years ago. So, we are mindful of scale in the aggregate and we are particularly mindful of large scale in the current financial environment where it’s very difficult to access capital markets even for a company as strong as we are. But we are in the look out and if we see a transaction that meets our hurdle rates that provides value for our shareholders that's within our vision for the company. We will pursue those acquisitions.
Shneur Gershuni - UBS
Okay. If we can turn over to the International Propane segment for a second, I know, John gave some decent color on this and so forth, I was just wondering if you can expand a little bit on what's going to happen to margins on a go-forward basis? Just want to understand I guess, how are they expected to grow a return to where they were a couple of years ago and also where you see volumes going as well, too [ph]?
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