Wachtell, Lipton, Rosen & Katz and Latham & Watkins represent Dallas-based Energy Transfer Equity in its pending acquisition of The Williams Cos. of Tulsa in a deal valued at $37.7 billion. Williams turned to lawyers from Cravath, Swaine & Moore and Gibson, Dunn & Crutcher.
On Sept. 28, Energy Transfer Equity (ETE) announced the business combination transaction with pipeline company Williams valued at $37.7 billion, including assumption of debt and other liabilities. Terms call for Energy Transfer Corp. (ETC), an affiliate of ETE, to acquire Williams for an implied current price of $43.50 for each Williams share, with Williams shareholders given the option of receiving ETC stock and/or cash. Additionally, Williams shareholders will be entitled to a one-time dividend of 10 cents for each share of Williams stock they own, which will be paid immediately prior to closing of the transaction.
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