Williams Increases Share of Access Midstream By $6 Billion

June 2014, Vol. 241, No. 6

Williams announced June 15 that the company will acquire all of its joint venture Access Midstream Partners’ general partnership and bring its share in the limited partnership to 50%, a deal valued at $6 billion overall.

The company said the decision would accelerate the transformation of Williams to a pure-play general partnership holding company. It plans to merge the Access Midstream LP with Williams Partners LP. The other 50% of Access Midstream’s LP shares are owned by public unitholders, according to the announcement.

In a public release, the company called out the importance of size to its business strategy. It listed a goal to increase competitive advantage as, “Be big–the No. 1 or 2 largest–in gathering, processing and transportation in basins and markets where we operate.”

Same-day market response saw Williams’ stock price up nearly 20%.

More reading:
Wall Street Journal coverage of the deal (paywall)
Williams’ slide presentation on the agreement

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