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Williams Cos. (WMB) Stock Slumps on Lowered Energy Transfer Merger Expectations

NEW YORK (TheStreet) -- Williams Cos. (WMB - Get Report) stock is down by 5.78% to $15.32 in early-afternoon trading on Thursday, after rival pipeline company Energy Transfer Equity (ETE) slashed its expectations for the companies' proposed $14 billion merger.

Energy Transfer now believes that the base case for earnings before interest, taxes, depreciation and amortization from commercial synergies from the deal will be around $170 million a year by 2020, down from previous forecasts of more than $2 billion, according to an SEC filing, Reuters reports.

The outlook assumes that oil prices will range between...