5 Yrs Later Williams, ET Still Arguing over Botched Merger

In 2015 Kelsy Warren and his Energy Transfer Equity (now just Energy Transfer) company pursued Williams, wanting to merge Williams into its own operation. Williams initially fought ET tooth and nail, but in the end, cut a deal (see Williams Accepts ETE’s “Indecent Proposal” – Price Went Down $10B). Without recounting all the sordid details, ET got cold feet and left Williams at the alter, and Williams sued (see Merger Turns Sour: Williams Sues ETE/CEO Kelcy Warren). The merger never happened. Believe it or not, lawsuits over that merger continue. ET says Williams CEO Alan Armstrong covertly worked to tank the deal. Williams says it was all ET’s fault and ET still owes it $410 million.

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