Dela. Court Grants Williams Request to Speed Up ETE Lawsuit

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court-gavel.jpgA Delaware court has granted a motion by Williams to hurry-it-up with their recently filed lawsuit against Energy Transfer Equity (ETE)--the company trying to buy Williams. No, Williams is not trying to fend off the purchase. They're trying to ensure Williams stockholders (and the managers of Williams) get the agreed-to price. Last week Williams sued ETE and its CEO Kelsy Warren for issuing private shares of stock to select investors to help finance the deal (see Merger Turns Sour: Williams Sues ETE/CEO Kelcy Warren). Williams believes the private stock offering is a sweetheart deal that in the end devalues or puts at a disadvantage Williams stockholders. The court has granted Williams request to speed things up. The Williams board still maintains they want the merger/buyout to go forward. Strange way to show you love your new owner--by suing him. But this isn't about affection and getting along and kumbaya--it's about money...

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