NEW YORK, Sept. 30, 2015 /PRNewswire/ -- The fairness of
the proposed acquisition of Williams Companies, Inc. ("WMB" or the
"Company") by Energy Transfer Equity, L.P. is the subject of an
investigation by WeissLaw LLP, a national class action, shareholder
rights law firm. The investigation is focusing on possible
breaches of fiduciary duty and other violations of law by the Board
of Directors of WMB for agreeing to sell the Company to Energy
Transfer. On September 28, 2015, the Company announced it
had reached a definitive agreement for Energy Transfer to acquire
all outstanding shares of WMB in a transaction valued at
approximately $37.7 billion. Under
the terms of the agreement, WMB shareholders can elect to receive
$43.50 in cash or 1.8716 Energy
Transfer common shares for each WMB shares they own.
WeissLaw is investigating whether WMB's Board acted to maximize
shareholder value prior to entering into the agreement. Notably,
the offer price represents a mere 4.5% premium over the Company's
September 25, 2015 closing price of
$41.60. Additionally, several
analysts set a target price of $63.00
per share, or $19.50 above the offer
price. Further, the WMB shares traded at $58.77 as recently as July 14.
Given these facts, WeissLaw is investigating whether WMB' s
Board acted in the best interests of WMB' s public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with Energy Transfer. If you own WMB
shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin or Kelly Keenan by telephone at (888) 593-4771
or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal advice
concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com or fill out the form on our
website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP