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Actionable news in WMB: WILLIAMS COMPANIES Inc,

Williams Cos. (WMB) Stock Advances on Canadian Businesses Divesture

NEW YORK (TheStreet) -- Shares of Williams Cos. (WMB) were rising mid-Monday morning after the company agreed to sell its Canadian businesses to Inter Pipeline (IPPLF) for $1.03 billion.

The Tulsa, OK-based energy infrastructure company and its affiliate, Williams Partners (WPZ), plan to use the proceeds from the sale to reduce borrowings on credit facilities.

Both Williams entities will waive $150 million of incentive distribution rights. After the waiver, Williams Cos. will receive net consideration of approximately $209 million and Williams Partners will receive $817...