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Williams Downgraded as Bidding Process Wraps Up

The Williams Companies (WMB) is facing pressure as results of its “strategic review” — which will likely include a decision on which bid to accept among several potential acquirers — is expected to wrap up soon.

Wells Fargo downgraded the shares to Market Perform from Outperform on Thursday noting, “a less attractive risk-reward balance when considering the potential outcomes” of the review process. WMB shares were down nearly 3% to $44.73 at 11 a.m. ET on...