Delaware Court Strikes Down Williams Poison Pill Provision

Talk about closing the barn door after the horse is gone! In March 2020 midstream (pipeline) giant Williams issued a press release to say they had just swallowed a poison pill (see Williams Swallows Poison Pill to Prevent Company Takeover). The “limited duration stockholder rights agreement” was set to expire a year later, March 20th of this year. A Delaware court last week struck down the poison pill measure, less than a month before its expiration. Big whup--it's already done its job.

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