Energy Transfer Williams Buyout May 2026

The deal required a tax opinion from Latham & Watkins LLP that the transaction would be tax-free. Latham advised they could not deliver this opinion, a condition needed for closing.

In September 2015, Energy Transfer Equity, L.P. (ETE) announced a definitive agreement to acquire The Williams Companies, Inc. (WMB) in a cash-and-stock transaction valued at approximately $33 billion to $37.7 billion (including debt). The deal aimed to create one of the world's largest energy infrastructures, holding roughly 100,000 miles of pipelines. Key Deal Components energy transfer williams buyout

Energy stocks and oil prices collapsed during the negotiation period, making the deal significantly less attractive to ETE. The deal required a tax opinion from Latham

Following the termination, the companies engaged in legal disputes over termination fees. In 2023, the Delaware Supreme Court ruled that ETE was not entitled to a $1.48 billion breakup fee and had to pay Williams a $410 million reimbursement fee plus attorney fees. (ETE) announced a definitive agreement to acquire The