Bambi buys SXL 29.49: Investors panned the deal, sending Williams, Energy Transfer and their affiliates down around 10 percent in afternoon trade on the New York Stock Exchange after it became clear the original offer was not sweetened.

Energy Transfer will take on US$4.2 billion in Williams liabilities and issue US$6 billion in new debt to finance the transaction. Williams turned that down, but its worth has sunk by a third since then as an energy slump that started in mid-2014 drags on. The takeover ends a pursuit stretching back to January and marks the first major buyout of a midstream company since oil prices crashed. Williams Partners unitholders should see increased distributable cash flows from cost savings and synergies reaching up to $400 million per year, ETE projected. Projected cost savings and anticipated commercial synergies exceeded expectations from early due diligence, officials said.


Delphine:
Williams Cos. stockholders also will be entitled to a special one-time dividend of 10 cents per WMB share, to be paid prior to closing.

Catheryn:
The ETC shares would be traded on the New York Stock Exchange under the symbol ETC.

Rosemarie:
Stockholders may elect to receive a prorated cash amount and/or 1.8716 ETC common shares for each share of WMB stock.

Cleopatra:
The acquisition of Susser Holdings then carried ETE into refined products and convenience store operations.

Lucia:
That will give ETE a portfolio of three investment-grade MLPs: Energy Transfer Partners LP, Sunoco Logistics Partners LP and Williams Partners, which trades as WPZ.

Delsie:
It retains its 60-percent hold of that master limited partnership.

Shela:
That bid came as Williams was moving to acquire the 40 percent of Williams Partners it did not already own.

Micha:
The Tulsa natural gas giant had turned down an unsolicited $53.1 billion offer from ETE three months ago.

Bridget:
Williams brings roughly 7,000 workers into the 27,000-employee portfolio of 20-year-old ETE.

Marty:
For the first six months of this year, Williams Cos. net income fell 24 percent to $184 million from $243 million.

Sunoco Logistics Partners Lp (NYSE:SXL)
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