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Williams shares drop after judge backs Energy Transfer

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eastunder Member Level  Monday, 06/27/16 12:35:10 PM
Re: eastunder post# 185
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Williams shares drop after judge backs Energy Transfer in merger dispute


Published: June 24, 2016 6:00 p.m. ET


Shares of Williams Cos. WMB, -3.05% dropped in the extended session Friday after a Delaware judge sided with Energy Transfer Equity LP ETE, +1.30% on backing out of a proposed merger. Williams shares fell 6.8% to $19.86 on heavy volume after hours, while shares of Williams Partners LP WPZ, -5.28% slipped 3.2% to $32.96. Shares of Energy Transfer equity jumped 8.1% to $14.95. In a statement, Williams said it will "take appropriate actions to enforce its rights" under the merger agreement, and recommended that shareholders still vote in favor of the merger on Monday.


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