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Williams Cos. Unveils 26 Million Share Offering To Fund Caiman Deal

DOW JONES NEWSWIRES Williams Cos. (WMB) said it plans to offer 26 million of its shares as part of an effort to help fund Williams Partners L.P.'s (WPZ) $2.5 billion acquisition of Caiman Eastern Midstream LLC. Williams Partners, which unveiled the acquisition plan earlier this month, is the midstream and interstate gas pipeline asset-holder of energy company Williams Cos. Williams Cos. said it intends to use the money raised from the stock offering to buy Williams Partners common units to help fund the deal. Williams Cos. has roughly 600 million shares outstanding. Williams Partners expects significant growth in gathering volumes and natural-gas liquids production from the Caiman assets. There are an estimated 300 trillion cubic feet of natural gas in place within a 35-mile radius of the existing gathering system there, and a significant amount remains undedicated, it has said. Williams had said it planned to make an investment in Williams Partners of approximately $1 billion to facilitate the Caiman deal. Last month, Williams Cos. said it swung to a fourth-quarter loss, mostly on write-downs related to its former exploration and production business, while Williams Partners's fourth-quarter earnings improved on strong margins on natural-gas liquids. Williams Cos. shares closed at $30.59 Thursday and were down 0.8% after hours. The stock is up 15% over the past three months. -By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com

Stock News for Williams (WMB)
DateTimeHeadline
06/27/201617:18:54Filing of Certain Prospectuses and Communications in Connection...
06/27/201617:18:28Filing of Certain Prospectuses and Communications in Connection...
06/27/201617:01:00Williams Files Appeal to Close Energy Transfer Merger
06/27/201616:15:04Current Report Filing (8-k)
06/27/201615:25:00Williams Stockholders Approve Merger Transaction with ETE...
06/27/201613:40:00Williams Holders Vote for Cash in Energy Transfer Deal
06/27/201612:32:00Correction to Williams, Energy Transfer Story
06/27/201610:38:00Williams Shareholders Opt for ETE Deal
06/27/201609:35:05Additional Proxy Soliciting Materials (definitive) (defa14a)
06/27/201609:15:00Williams Announces Preliminary Stockholder Merger Consideration...
06/27/201606:04:57Additional Proxy Soliciting Materials (definitive) (defa14a)
06/27/201606:04:55Additional Proxy Soliciting Materials (definitive) (defa14a)
06/27/201603:03:00Williams Cos. Fights to Save Deal -- WSJ
06/26/201620:40:00Williams Cos. Fights to Save Deal
06/26/201620:08:00Williams Cos. Fights to Save Deal With Energy Transfer
06/25/201603:03:00Court Sinks Pipeline Deal -- WSJ
06/24/201621:32:00Energy Transfer Can Escape Williams Takeover, Judge Rules...
06/24/201618:26:00Energy Transfer Can Escape Williams Takeover, Judge Rules--Update
06/24/201617:49:00Williams Committed to Closing; Will Take Appropriate Actions...
06/24/201617:40:00Energy Transfer Can Escape Williams Takeover, Judge Rules

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