The Williams Companies, Inc. (Williams) and Williams Partners L.P. (Williams Partners) have announced that Williams has closed the merger of Williams Partners with a subsidiary of Williams. Pursuant to the merger, Williams acquired all of the outstanding common units of Williams Partners it did not previously own. As a result of the merger, and following the closing of the market, Williams Partners common units will no longer be publicly traded on the New York Stock Exchange.
“We are pleased to close this important transaction following the strong support for the merger that was demonstrated by our shareholders in yesterday’s overwhelming vote of approval,” said Alan Armstrong, President and Chief Executive Officer of Williams. “This transaction provides Williams with a simplified corporate structure and streamlined governance while maintaining investment-grade credit ratings and positions us well for long-term growth and enhanced shareholder value. As a fast-growing, investment grade C-Corp with the best natural gas infrastructure assets in the sector, we are confident this combined entity will provide a compelling investment opportunity to a broader range of investors.”
Read the article online at: https://www.worldpipelines.com/business-news/13082018/williams-completes-acquisition-of-williams-partners/