The Williams Companies, Inc. (NYSE: WMB) (“Williams”) and Williams
Partners L.P. (NYSE: WPZ) (“Williams Partners”) today 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 today’s 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.”
About Williams
Williams (NYSE: WMB) is a premier provider of large-scale infrastructure
connecting U.S. natural gas and natural gas products to growing demand
for cleaner fuel and feedstocks. Headquartered in Tulsa, Okla., Williams
is an industry-leading, investment grade C-Corp with operations across
the natural gas value chain including gathering, processing, interstate
transportation and storage of natural gas and natural gas liquids. With
major positions in top U.S. supply basins, Williams owns and operates
more than 33,000 miles of pipelines system wide – including the nation’s
largest volume and fastest growing pipeline – providing natural gas for
clean-power generation, heating and industrial use. Williams’ operations
touch approximately 30 percent of U.S. natural gas. www.williams.com
Portions of this document may constitute “forward-looking statements”
as defined by federal law. Although the company believes any such
statements are based on reasonable assumptions, there is no assurance
that actual outcomes will not be materially different. Any such
statements are made in reliance on the “safe harbor” protections
provided under the Private Securities Reform Act of 1995. Additional
information about issues that could lead to material changes in
performance is contained in the company’s annual and quarterly reports
filed with the Securities and Exchange Commission.
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Copyright Business Wire 2018
Source: Business Wire
(August 10, 2018 - 12:17 PM EDT)
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