Williams To Swallow Up Subsidiary Williams Partners

Tulsa, OK-based Williams Cos. announced it will acquire the 40% of subsidiary Williams Partners it doesn’t already own through a unit share swap valued at about $13.8 billion. The transaction is expected to take place in the third quarter. Williams Partners, the master limited partnership that holds Williams natural gas infrastructure assets, was set up in 2005. The partnership grew and was instrumental in raising investor money, which was used to acquire more assets from Williams Cos.