Williams Partners Advises Unitholders to Reference News Today From Its General Partner, Williams (NYSE:WMB)
22 June 2015 - 8:19AM
Business Wire
Williams Partners L.P. (NYSE: WPZ) advised its unitholders to
reference news issued today by Williams (NYSE:WMB), the owner of
our general partner. Williams today announced that its Board of
Directors has authorized a process to explore a range of strategic
alternatives following receipt of an unsolicited proposal to
acquire Williams in an all-equity transaction at a stated per share
price of $64.00. The unsolicited proposal was contingent on the
termination of Williams’ pending acquisition of Williams
Partners.
With the assistance of its outside financial and legal advisors,
the Williams Board carefully considered the unsolicited proposal
and determined that it significantly undervalues Williams and would
not deliver value commensurate with what Williams expects to
achieve on a standalone basis and through other growth initiatives,
including the pending acquisition of Williams Partners.
Important Information:
This document includes important information about an agreement
for the acquisition by The Williams Companies, Inc. of all publicly
common units of Williams Partners L.P. Williams and Williams
Partners security holders are urged to read the joint solicitation
statement/prospectus regarding the proposed transaction when it
becomes available because it will contain important information.
Investors will be able to obtain a free copy of the joint
solicitation statement/prospectus, as well as other filings
containing information about the proposed transaction, without
charge, at the Securities and Exchange Commission’s internet site
(http://www.sec.gov). Copies of the joint solicitation
statement/prospectus and the filings with the Securities and
Exchange Commission that will be incorporated by reference in the
joint solicitation statement/prospectus can also be obtained,
without charge, by directing a request either to The Williams
Companies, Inc., One Williams Center, Tulsa, Oklahoma 74172,
Attention: Investor Relations or to Williams Partners L.P., One
Williams Center, Tulsa, Oklahoma 74172, Attention: Investor
Relations.
The respective directors and executive officers of Williams and
Williams Partners may be deemed to be “participants” (as defined in
Schedule 14A under the Exchange Act) in respect of the proposed
transaction. Information about Williams’ directors and executive
officers is available in Williams’ annual report on Form 10-K for
the fiscal year ended December 31, 2014, filed with the SEC on
February 25, 2015. Information about Williams Partners’ directors
and executive officers is available in WPZ’s annual report on Form
10-K for the fiscal year ended December 31, 2014 filed with the SEC
on February 25, 2015. Other information regarding the participants
in the solicitation and a description of their direct and indirect
interests, by security holdings or otherwise, will be contained in
the joint solicitation statement/prospectus and other relevant
materials to be filed with the Securities and Exchange Commission
when they become available.
This document shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the U.S.
Securities Act of 1933, as amended.
About Williams Partners
Williams Partners (NYSE: WPZ) is an industry-leading, large-cap
natural gas infrastructure master limited partnership with a strong
growth outlook and major positions in key U.S. supply basins and
also in Canada. Williams Partners has operations across the natural
gas value chain from gathering, processing and interstate
transportation of natural gas and natural gas liquids to petchem
production of ethylene, propylene and other olefins. Williams
Partners owns and operates more than 33,000 miles of pipelines
system wide – including the nation’s largest volume and fastest
growing pipeline – providing natural gas for clean-power
generation, heating and industrial use. Williams Partners’
operations touch approximately 30 percent of U.S. natural gas.
Tulsa, Okla.-based Williams (NYSE: WMB), a premier provider of
large-scale North American natural gas infrastructure, owns 60
percent of Williams Partners, including all of the 2 percent
general-partner interest. www.williams.com
Portions of this document may constitute “forward-looking
statements” as defined by federal law. Although the partnership
believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially
different. Any such statements are made in reliance on the “safe
harbor” protections provided under the Private Securities Reform
Act of 1995. Additional information about issues that could lead to
material changes in performance is contained in the partnership’s
annual reports filed with the Securities and Exchange
Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20150621005046/en/
Williams PartnersMedia Contact:Tom Droege,
918-573-4034orInvestor Contacts:John Porter,
918-573-0797orBrett Krieg, 918-573-4614
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