Replies to post #114 on Williams Cos. Inc. (WMB)

[eastunder]

Transcript of investors call

http://archive.fast-edgar.com//20150929/AS2LW62FZW2R3ZZ2222E2ZXM9GIPZZ22D272/

[eastunder]

Per.

It's a ratio

[eastunder]

Looks like we will have a brand new company as well, right?

The shares we will get will be of ETC, not ETE.

We have put in place a mechanism for the stock that we are issuing, which will be a newly created vehicle, ETC, to trade at parity with ETE.

ETE will form a new Partnership entity that will in fact be a Corporation for tax purposes, ETC — or Energy Transfer Corp., LP, as its full and legal correct name. It will be merged with Williams and it will be the survivor of that actual merger