The Williams Companies, Inc. (NYSE:WMB) (“Williams” or the “Company”)
today issued the following statement regarding Enterprise Products
Partners L.P.’s (NYSE:EPD) recent announcement:
Williams confirms 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.
Williams notes that, as a matter of practice, it does not comment on
market rumors or speculation, and does not intend to comment on any
future indications of interest from Enterprise or any other party.
Williams (WMB) is a premier provider of large-scale
infrastructure connecting North American natural gas and natural gas
products to growing demand for cleaner fuel and feedstocks.
Headquartered in Tulsa, Okla., Williams owns approximately 60 percent of
Williams Partners L.P. (WPZ) (“WPZ”), including all of the 2 percent
general-partner interest. WPZ is an industry-leading, large-cap master
limited partnership with 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. With major positions in top U.S. supply basins and also
in Canada, WPZ 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. WPZ’s operations touch approximately 30 percent of U.S.
natural gas.
Portions of this document may constitute “forward-looking statements” as
defined by federal law. Although the company 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 company’s annual reports filed with the
Securities and Exchange Commission.
