Williams, Williams Partners to merge in $13.8-billion deal

摘要

Williams (Tulsa, OK) is to acquire Williams Partners in an all-stock-for-unit transaction valued at $13.8 billion. The two companies expect the deal to close in the fall after regulatory and shareholder approval. Williams Partners will become a wholly owned subsidiary of Williams. Alan Armstrong, Williams president and CEO, says the deal will provide tax benefits, lower the cost of capital, and drive a 10-15%/ year dividend growth rate through 2020. "This transaction simplifies our corporate structure; streamlines governance; and positions Williams for strong, investment-grade credit ratings," he says. "We anticipate significant market valuation upside and lower cost