May 17, 2018 / 9:41 AM / 2 months ago

BRIEF-Williams Companies Announces Agreement To Acquire All Public Equity Of Williams Partners

May 17 (Reuters) - Williams Companies Inc:

* WILLIAMS ANNOUNCES AGREEMENT TO ACQUIRE ALL PUBLIC EQUITY OF WILLIAMS PARTNERS L.P.

* WILLIAMS COMPANIES INC - TRANSACTION IS VALUED AT $10.5 BILLION

* WILLIAMS COMPANIES - BUY ALL PUBLIC COMMON OF WILLIAMS PARTNERS UNITS IN STOCK-FOR-UNIT DEAL AT 1.494 RATIO OF CO SHARES/UNIT OF WILLIAMS PARTNERS

* WILLIAMS COMPANIES INC - FOLLOWING CONSUMMATION OF MERGER, WILLIAMS PARTNERS WILL BECOME A WHOLLY OWNED SUBSIDIARY OF WILLIAMS

* WILLIAMS COMPANIES INC -DEAL IMMEDIATELY ACCRETIVE TO CASH AVAILABLE FOR DIVIDENDS FOR WILLIAMS

* WILLIAMS COMPANIES INC - WILLIAMS WILL ACQUIRE ALL OF 256.0 MILLION PUBLIC OUTSTANDING UNITS OF WILLIAMS PARTNERS

* WILLIAMS COMPANIES INC - ASSUMING 1.494 EXCHANGE RATIO, WILLIAMS WILL ISSUE ABOUT 382.5 MILLION SHARES IN CONNECTION WITH PROPOSED DEAL

* WILLIAMS COMPANIES INC - DEAL WILL BE TAXABLE TO WILLIAMS PARTNERS UNITHOLDERS

* WILLIAMS COMPANIES INC - WILLIAMS PARTNERS CONFLICTS COMMITTEE APPROVED DEAL

* WILLIAMS COMPANIES - DEAL EXTENDS PERIOD FOR WHICH CO IS NOT EXPECTED TO BE A CASH TAXPAYER THROUGH 2024 AND PROVIDES MODEST G&A SAVINGS

* WILLIAMS COMPANIES INC - DEAL WAS APPROVED BY BOARDS OF BOTH GENERAL PARTNER OF WILLIAMS PARTNERS & WILLIAMS Source text for Eikon: Further company coverage:

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