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A Timeline Of The Williams Cos. Deal Saga

Enterprise Products Partners L.P. NYSE:EPD, Energy Transfer Equity, L.P. NYSE:ETE - A Timeline Of The Williams Cos. Deal Saga

Williams Companies Inc WMB 3.56% is one of the stocks that traded down more than 3 percent on Friday. The primary reason for the fall is likely news that Enterprise Products Partners L.P. EPD 1.61% disclosed its intention to withdraw its acquisition interest on Williams.

This is not the first time Williams has been left in the lurch by potential suitors. Last year, Energy Transfer Equity LP ETE 4.48% struck an agreement with Williams for $33 billion. This agreement came on the back of a continuous drop in oil price beginning September 2014. Before this, Williams rejected $53.3 billion unsolicited offer from the same suitor.

As far as the current withdrawal, Enterprise Products blamed the leakage of its engagement for a possible acquisition. Following the news, Williams shares surged 19.5 percent between August 18 and September 8.

Timeline Of The Saga

  • June 22, 2015: Williamson rejects $53 billion acquisition offer from Energy Transfer.
  • September 29, 2015: Energy Transfer agrees to buy Williams for $33 billion.
  • June 28, 2016: $33 billion deal with Energy Transfer Equity fell apart.
  • August 18, 2016: Reuters reported Enterprise Products proposal to acquire Williams.
  • September 8, 2016: Enterprise Products withdraws its acquisition offer.

At time of writing, Williams was down 3.29 percent on the day, trading at $30.12.

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