Bold Move – Williams Selling Canadian Assets for $1B

boldEarlier this week Williams announced a deal to sell its Canadian businesses and assets to Inter Pipeline for $1 billion. Williams is wasting no time following the aborted merger attempt by Energy Transfer Equity to buy Williams. Following that aborted attempt, nearly half of the Williams board quit because they couldn’t get their grubby hands on big piles of money (see Half of Williams Board, Including 2 Corporate Raiders, Quit). Good riddance. Williams CEO Alan Armstrong has been under extreme pressure to step down–which he has resisted. Armstrong is soldiering on and this is his first big, bold move since the palace coup failed. Armstrong says the Canadian asset sale will help fund major capital projects in the second half of 2016…

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