Buyout: Energy Transfer Williams

The merger was terminated in June 2016 due to several critical factors:

Energy stocks and oil prices collapsed during the negotiation period, making the deal significantly less attractive to ETE. energy transfer williams buyout

Williams shareholders were offered a combination of ETC common shares and cash ($6.05 billion in aggregate). The merger was terminated in June 2016 due

The merger failed, and both companies remained independent. The event is widely studied as a case study in failed corporate mergers driven by changing market conditions and unmet closing conditions (specifically, tax opinions). The event is widely studied as a case

The acquisition was highly prized for Williams' 10,000-mile Transco natural gas network, a major artery connecting Texas to the Northeast.

The deal required a tax opinion from Latham & Watkins LLP that the transaction would be tax-free. Latham advised they could not deliver this opinion, a condition needed for closing.