Williams Asks Shareholders to Back Merger Despite Judge’s Decision
Williams Companies said it will still recommend that its stockholders vote for in favor of the merger with Energy Transfer Equity ( ETE), despite a Delaware judge’s ruling that ETE can get out of the deal.
“While we appreciate the Court’s consideration of this matter, Williams does not believe ETE has a right to terminate the Merger Agreement because ETE has breached the merger agreement by failing to cooperate and use necessary efforts to satisfy the conditions to closing, including delivery of Latham & Watkins LLP’s Section 721(a) tax opinion,” Williams said in statement to the media.
Williams will hold a special meeting of stockholders this morning at the Williams Resource Center Theater in Tulsa, Oklahoma. Williams’ stockholders of record as of the close of business on May 19 are eligible to vote at the meeting.
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