Jefferies Downgrades Williams Companies (WMB) to Hold
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January 9, 2017 4:46 PM EST
Williams (NYSE: WMB) (Williams) today announced that it has commenced an underwritten public offering of 65 million shares of Williams common stock. The underwriters will be granted a 30-day option to purchase up to an additional 9.75 million shares of common stock.
Williams intends to use the net proceeds of the offering to purchase newly issued common units, representing limited... More
January 9, 2017 4:06 PM EST
Williams (NYSE: WMB) and Williams Partners L.P. (NYSE: WPZ) today announced an agreement to permanently waive payment obligations under the incentive distribution rights held by Williams and convert Williams economic general partner interest into a non-economic interest for 289 million newly issued Williams Partners common units (collectively, the IDR Waiver). The estimated transaction value is approximately $11.4 billion. Following the IDR Waiver, Williams will hold approximately 660 million Williams Partners common units, representing approximately 72% of the common units outstanding.
Williams also announced that it expects to purchase newly issued... More
