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Williams Partners To Offer 6.5 Million Units

DOW JONES NEWSWIRES Williams Partners LP (WPZ) unveiled plans Tuesday to offer 6.5 million common units as the company looks to raise money to fund capital expenditures and for other general partnership purposes. Units slipped 3.4% to $62.65 after hours. The stock has climbed 38% in the past 12 months. Williams Partners, the midstream asset-holder of Williams Cos. (WMB), said some of the offering's proceeds likely will be used to help fund its planned acquisition of Laser Northeast Gathering System. Williams said it will make a cash contribution to Williams Partners to maintain its 2% general-partner interest in the partnership. As a result of the offering, Williams' limited-partner interest in Williams Partners will be reduced to approximately 72% from its current level of approximately 73%. Williams Partners had 290.5 million common units outstanding as of Nov. 1. In November, Williams Partners reported an increase in its bottom line for the third quarter on wider margins and higher pipeline fees. Last month, the company said it agreed to acquire Laser Northeast Gathering System and other assets in the Marcellus shale from Delphi Midstream Partners LLC in a deal valued at roughly $750 million. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287;

Stock News for Williams (WMB)
08/29/201616:09:24Current Report Filing (8-k)
08/29/201616:07:37Additional Proxy Soliciting Materials (definitive) (defa14a)
08/29/201610:20:00Williams Adds Three New Directors
08/29/201609:51:00Williams Adds Three New Directors Ahead of Proxy Battle
08/29/201608:00:00Williams Appoints Three New Independent Directors
08/26/201608:30:00Williams Agrees to Purchase 6.975 Million Common Units from Williams...
08/24/201617:12:12Additional Proxy Soliciting Materials (definitive) (defa14a)
08/24/201617:10:22Additional Proxy Soliciting Materials (definitive) (defa14a)
08/24/201611:09:00Williams Confirms Receipt of Corvex Director Nominations
08/24/201609:42:05Additional Proxy Soliciting Materials - Non-management (definitive...
08/23/201603:03:00Activist Investor Seeks to Replace Entire Williams Board -- WSJ
08/22/201614:50:00Activist Investor Seeks to Replace Entire Williams Board
08/22/201614:45:00Activist Investor Seeks to Replace Entire Williams Board
08/22/201614:03:00Williams Comments on the Corvex Plan to Nominate Directors
08/19/201616:15:00Williams Announces Quarterly Cash Dividend
08/18/201615:25:00Enterprise Product Partners Contacted Williams This Summer About...
08/16/201614:44:03Statement of Changes in Beneficial Ownership (4)
08/16/201614:43:35Statement of Changes in Beneficial Ownership (4)
08/15/201618:10:00Williams to Fill Three of Its Emptied Board Seats
08/15/201617:58:00Williams to Fill Three of Its Emptied Board Seats

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