Judge: Energy Transfer Must Pay Williams $410M for Aborted 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, caved and 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 altar, and Williams sued to recoup a contractual breakup fee (see Merger Turns Sour: Williams Sues ETE/CEO Kelcy Warren). Plenty of lawsuits ensued and finally, after more than six years, a judge ruled on Wednesday, Dec. 29, that ET must pay Williams a $410 million breakup fee provided for in the signed deal.

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