Scotia Capital Downgrades Williams Companies (WMB) to Sector Perform
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Go back to Scotia Capital Downgrades Williams Companies (WMB) to Sector Perform
September 28, 2015 5:30 PM EDT
By Anannya Pramanick and Shubhankar Chakravorty
(Reuters) - Pipeline giant Energy Transfer Equity LP (NYSE: ETE) will buy rival Williams Cos Inc (NYSE: WMB) in a deal valued around $33 billion, nearly a third less than the same offer Williams had rejected in June for being too small.
The takeover ends a pursuit stretching back to January and marks the first major buyout of a midstream company since oil prices crashed. It will create one of the world's largest energy infrastructure companies, alongside Kinder Morgan Inc. and Enterprise... More
September 28, 2015 7:02 AM EDT
Energy Transfer Equity (NYSE: ETE) and The Williams Companies, Inc. (NYSE: WMB) announced a business combination transaction valued at approximately $37.7 billion, including the assumption of debt and other liabilities. This announcement follows the termination of the previously agreed merger agreement between WMB and Williams Partners L.P. (WPZ). The business combination between ETE and WMB was approved by the Boards of Directors of both entities. The combination will create the third largest energy franchise in North America and one of the five largest global energy companies. The combination will also... More
