July 2015, Vol. 242, No. 7

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Williams Rejects Merger Offer from Energy Transfer

Energy Transfer Equity (ETE) on Monday confirmed it proposed a merger with The Williams Companies in an all-equity transaction valued at $53.1 billion, including the assumption of debt and other liabilities. Williams rejected the takeover offer. ETE said it made the offer in a May 19 letter to Williams CEO Alan Armstrong, which was followed in June 11 letter to the Williams chairman of the board. ETE said in a written statement that it was “disappointed that, despite the best of intentions and its efforts to reach a friendly, negotiated combination, it is forced into a position to publicly confirm its offer for Williams.” Under the proposal, ETE would acquire all of the outst

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