UPDATE 5-Energy Transfer to buy Williams for $33 bln after long quest

28 Sep 2015 | Author: | No comments yet »

EQUITY ALERT: Rosen Law Firm Announces Investigation of Williams Companies, Inc. Concerning its Proposed Sale to Energy Transfer Equity, L.P.NEW YORK, Sep 28, 2015 (BUSINESS WIRE) — Rosen Law Firm, a global investor rights law firm, announces that it is investigating the Board of Directors of Williams Companies, Inc.HOUSTON — The Williams Cos. said Monday it will accept an offer from rival Energy Transfer, ending months of tortuous negotiation with a deal worth $32.9 billion. WMB, -11.66% for possible breaches of fiduciary duty and other violations of law by failing to adequately shop Williams Companies to maximize shareholder value before agreeing to be acquired by Energy Transfer Equity, L.P. The purchase is the second-largest energy deal announced this year, behind only Royal Dutch Shell’s $70 billion acquisition of natural gas producer BG Group in April, and it’s the largest combination announced since oil prices slid from near $60 per barrel highs earlier this year.

Here’s the takeaway: At a time the oil and gas industry is in panic mode over low prices, Warren just consummated one of the biggest mergers of the year in acquiring Williams Co. for $37.7 billion. ETE, -13.21% If you would like to join the action, go to the firm’s website at http://rosenlegal.com/cases-724.html or contact Phillip Kim or Kevin Chan toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com. It’s a strategy born out of the belief the oil industry is nearing bottom, and as Warren put it last week, there’s “some great opportunities” out there.

Dallas’ Energy Transfer operates on a larger scale, with about 71,000 miles of pipelines connecting wells and processing centers throughout Texas, the Gulf Coast and the Midwest. Except he’s now offering $6 billion in cash, a potentially enticing deal for investors who’ve had enough of the volatile energy market and want out. Williams Partners L.P., an asset-holding subsidiary of The Williams Companies Inc, will shift into the Energy Transfer family of companies but will keep its name and continue to trade separately. However, the Williams board didn’t close the door to a deal completely and invited further bidding when it hired investment bankers to determine the best path forward.

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