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Enterprise Products Withdraws Offer to Buy Williams Companies

FuelFix, September 9, 2016

Houston-based Enterprise Products Partners has reportedly pulled its offer to purchase Oklahome-based Williams Companies. Enterprise CEO Jim Teague said the proposed acquisition offer was pulled because of a “lack of engagement” from Williams.  Teague added, “while we are disappointed, we will maintain our financial discipline as we pursue future growth opportunities for the (Enterprise) partnership.” 

In a comment released by Williams on Thursday, the company confirmed that, "since July, Williams has had a series of exchanges with Enterprise regarding a potential combination. As Williams recently communicated to Enterprise, the Williams Board, including the three new directors, with the assistance of legal and financial advisors, was engaged in the process of carefully reviewing the most recent indication of interest from Enterprise. As such, Williams is surprised by today’s announcement from Enterprise. As always, the Board remains open to considering any potential strategic alternative that would maximize value for stockholders."

 

Click here to read the full article from FuelFix.


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