Home > Boards > US Listed > Oil/Gas/Natural Energy Production > Williams Cos. Inc. (WMB)

Williams Deal with Energy Transfer in Death Throes

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
eastunder Member Profile
Member Level 
Followed By 170
Posts 42,820
Boards Moderated 1
Alias Born 11/09/04
160x600 placeholder
Williams Announces Deepwater Export Agreement at Shenandoah Business Wire - 6/16/2021 7:30:00 AM
Williams CEO to Participate in J.P. Morgan Energy, Power & Renewables Virtual Conference Business Wire - 6/15/2021 4:15:00 PM
Annual Report of Employee Stock Plans (11-k) Edgar (US Regulatory) - 6/10/2021 4:47:41 PM
Williams Signs MoU With Microsoft on Clean Energy Transition Dow Jones News - 6/3/2021 11:57:00 AM
Williams Collaborates with Microsoft on Clean Energy Transition Business Wire - 6/3/2021 8:30:00 AM
Williams gets more time from FERC to build NESE pipeline Seeking Alpha - 5/21/2021 6:35:40 PM
Williams to Participate in the 2021 Energy Infrastructure Council Investor Conference Business Wire - 5/13/2021 4:15:00 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 5/3/2021 4:23:14 PM
Williams EPS beats by $0.06, beats on revenue Seeking Alpha - 5/3/2021 4:18:42 PM
Williams Reports Strong First-Quarter Results and Record Volumes; Raises 2021 Guidance Business Wire - 5/3/2021 4:15:00 PM
Williams Q1 2021 Earnings Preview Seeking Alpha - 5/2/2021 5:35:00 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 4/30/2021 4:05:19 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 4/29/2021 11:27:33 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 4/29/2021 11:27:23 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 4/29/2021 11:25:44 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 4/29/2021 11:24:05 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 4/29/2021 11:23:34 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 4/29/2021 11:22:03 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 4/29/2021 11:21:17 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 4/29/2021 11:13:25 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 4/29/2021 11:08:31 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 4/29/2021 11:05:25 AM
Williams declares $0.41 dividend Seeking Alpha - 4/27/2021 1:05:15 PM
Williams Announces Quarterly Cash Dividend Business Wire - 4/27/2021 11:18:00 AM
Williams to Report First-Quarter 2021 Financial Results on May 3; Earnings Conference Call and Webcast Scheduled for May 4 Business Wire - 4/12/2021 7:30:00 AM
eastunder Member Level  Monday, 06/27/16 12:36:31 PM
Re: eastunder post# 186
Post # of 226 

Williams Deal with Energy Transfer in Death Throes After Court Ruling
.
http://blogs.barrons.com/incomeinvesting/2016/06/27/williams-deal-with-energy-transfer-in-death-throes-after-court-ruling/?mod=yahoobarrons&ru=yahoo


By Amey Stone

A Friday decision by a Delaware judge, has effectively signaled the demise the merger of Williams Cos. (WMB) and its potential acquirer, Energy Transfer Equity (ETE), even as Williams’ shareholders are scheduled to vote on the deal Monday.

The judge ruled Friday that Energy Transfer can get out out of the deal due to tax complications. Williams had sued ETE arguing that tax attorneys were helping ETE scuttle the deal by failing to come up with an opinion letter on tax issue. The judge found the attorneys were acting in good faith. Without the letter, the deal can’t close by the Tuesday deadline agreed to by both parties.

In pre-market trading Monday, Williams shares were down 7% to $19.91. ETE’s shares were up 7% to $14.85. Both companies shares are down about 60% in the past year.

Williams continues to ask its shareholders to vote in favor of the deal. It is likely to appeal, according to The Wall Street Journal, which explains:


Williams has spent months arguing publicly that investors would be better off going through with the deal, even as Energy Transfer did everything it could to get out, and relations between the companies turned rancorous.

The legal fight will likely continue. Williams has said it is committed to closing the deal, and is considering appealing the ruling, a person familiar with the matter said. If Williams loses that appeal, it could sue Energy Transfer for damages.


"Then there was a woman, a lion of a woman."
Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences