Williams files suit to prevent Energy Transfer from terminating dealStaff writer ▼ |
Acquisition Williams Companies wants the deal to be done
Williams Companies has filed a lawsuit against Energy Transfer Equity to prevent it from terminating its once-coveted deal for Williams.
In September last year, Energy Transfer Equity and The Williams Companies announced a business combination transaction valued at approximately $37.7 billion, including the assumption of debt and other liabilities.
The latest development comes after Energy Transfer said in April its lawyers may not be able to deliver an important tax opinion for its takeover of Williams, throwing the agreed acquisition into doubt.
The lawsuit seeks to also prevent the pipeline company from avoiding its obligations in the event it fails to obtain the tax opinion.
Williams' board continues to recommend the merger announced in September last year, the company said. ■
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