Energy Transfer makes next move in bid to buy Williams

Energy Transfer Equity, which earlier this week said it continues to pursue if proposed acquisition of Williams, said Thursday it has entered into a confidentiality agreement with Williams to pursue the Oklahoma pipeline company’s strategic alternatives process.“ETE [Energy Transfer Equity] is looking forward to engaging with Williams and working toward a transaction that will deliver compelling value to both companies stakeholders,” said Energy Transfer spokeswoman Vicki Granado.Last month, Williams rejected Energy Transfer’s unsolicited bid worth roughly $53 billion, saying the offer “significantly undervalues” the midstreamer, which has 33,000 miles of pipeline from the Gulf of Mexico to Canada, Kallanish previously reported.In response to the bid, Williams said it was opening itself up to alternatives that could include a sale or merger. Another option would be for the Tulsa, Oklahoma-based energy company to move forward with its $13.8 billion plan to purchase the rema
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