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Williams Cos. (WMB) Stock Surges on Rejected Enterprise Takeover Bid

NEW YORK (TheStreet) -- Shares of Williams Cos. (WMB) were climbing 6.6% to $27.78 on heavy trading volume mid-Thursday afternoon after the company reportedly rejected an offer by pipeline competitor Enterprise Products Partners (EPD), the Financial Times reports.

Enterprise remains interested in acquiring Williams Cos. despite the rebuff and may make another offer, sources told the Times.

Also, oil prices are advancing today to their highest level in six weeks on speculation of an upcoming output freeze, further boosting Williams Cos. stock.

OPEC countries...