RBC Capital Downgrades Williams Partners LP (WPZ) to Sector Perform
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Williams (WMB) to Acquire Outstanding Common Units of Williams Partners (WPZ)
May 13, 2015 7:07 AM EDTWilliams (NYSE: WMB) and Williams Partners L.P. (NYSE: WPZ) today announced an agreement under which Williams will acquire all of the public outstanding common units of Williams Partners in an all stock-for-unit transaction at a 1.115 ratio of Williams common shares per unit of Williams Partners. The implied Williams Partners unit price as of May 12, 2015 represents a 14.5% premium to its 10-trading day average closing price and a 12.6% premium to its 20-trading day average closing price.
HIGHLIGHTS:
Expect Transaction to be Meaningfully Accretive to... More