Drama: Enterprise Bails on Williams Merger, No Longer Interested

As the World TurnsThe drama surrounding Williams and whether or not the company will sell itself continues. Energy Transfer Equity’s (ETE) billionaire CEO Kelsy Warren propositioned Williams for over six months before going public with his overtures last year (see Energy Transfer Makes “Indecent Proposal” to Buy Williams for $48B). Williams resisted, but eventually they caved and agreed to the deal, although the deal price went down by $10 billion (see Williams Accepts ETE’s “Indecent Proposal” – Price Went Down $10B). Warren claims he got snookered and got cold feet, eventually bailing (see Dead as a Doornail: ETE Terminates Merger with Williams). The ink on the flurry of lawsuits filed hadn’t even dried and Enterprise Products Partners, another huge midstream company, began making overtures to Williams (see Here We Go Again: Enterprise Products Wants to Buy Williams). That was last month. Yesterday Enterprise released a statement saying they’re finished with Williams, throwing in the towel, no longer interested. To which Williams (incredibly) replied they were “surprised” at the Enterprise announcement. Frankly, we’re surprised that Williams was surprised…

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