Enterprise Products Withdraws Its Interest in Williams Cos.
09 September 2016 - 7:20AM
Dow Jones News
By Josh Beckerman
Enterprise Products Partners L.P. confirmed that it had been
looking into a merger with fellow pipeline company Williams Cos.,
but it said it withdrew interest after Williams didn't engage.
In after-hours trading, Williams shares fell 8.5% to $28.50.
Reuters had reported in August that Enterprise approached
Williams about a potential acquisition at some point after Energy
Transfer Equity L.P.'s late June termination of its deal with
Williams, a transaction initially valued at $33 billion.
Enterprise said that "after extensive analysis of public
information regarding Williams, we submitted non-binding proposals"
to combine Williams and Enterprise.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 08, 2016 17:05 ET (21:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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