Williams Comments on Indication of Interest from Enterprise Products
September 08 2016 - 6:43PM
Business Wire
The Williams Companies, Inc. (NYSE:WMB) (“Williams” or the
“Company”) today issued the following statement regarding
Enterprise Products Partners L.P.’s (NYSE:EPD) recent
announcement:
Williams confirms that, since July, Williams
has had a series of exchanges with Enterprise regarding a potential
combination. As Williams recently communicated to Enterprise, the
Williams Board, including the three new directors, with the
assistance of legal and financial advisors, was engaged in the
process of carefully reviewing the most recent indication of
interest from Enterprise. As such, Williams is surprised by today’s
announcement from Enterprise. As always, the Board remains open to
considering any potential strategic alternative that would maximize
value for stockholders.
Williams notes that, as a matter of practice, it does not
comment on market rumors or speculation, and does not intend to
comment on any future indications of interest from Enterprise or
any other party.
Williams (WMB) is a premier provider of large-scale
infrastructure connecting North American natural gas and natural
gas products to growing demand for cleaner fuel and feedstocks.
Headquartered in Tulsa, Okla., Williams owns approximately 60
percent of Williams Partners L.P. (WPZ) (“WPZ”), including all of
the 2 percent general-partner interest. WPZ is an industry-leading,
large-cap master limited partnership with operations across the
natural gas value chain from gathering, processing and interstate
transportation of natural gas and natural gas liquids to petchem
production of ethylene, propylene and other olefins. With major
positions in top U.S. supply basins and also in Canada, WPZ owns
and operates more than 33,000 miles of pipelines system wide –
including the nation’s largest volume and fastest growing pipeline
– providing natural gas for clean-power generation, heating and
industrial use. WPZ’s operations touch approximately 30 percent of
U.S. natural gas.
Portions of this document may constitute “forward-looking
statements” as defined by federal law. Although the company
believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially
different. Any such statements are made in reliance on the “safe
harbor” protections provided under the Private Securities Reform
Act of 1995. Additional information about issues that could lead to
material changes in performance is contained in the company’s
annual reports filed with the Securities and Exchange
Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20160908006757/en/
The Williams Companies, Inc.Investor Relations:John Porter,
918-573-0797orBrett Krieg, 918-573-4614orMedia Relations:Lance
Latham, 918-573-9675orJoele Frank, Wilkinson Brimmer KatcherDan
Katcher, Andrew Siegel or Dan Moore, 212-355-4449
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