Williams Cos. Restructures, Launches $3B Buyback Bid

By Christie Smythe

Law360, New York (January 19, 2010, 6:43 PM ET) -- Natural gas producer Williams Cos. has launched a $3 billion note buyback offer as part of a restructuring effort aimed at consolidating pipeline and other assets and boosting the company’s access to capital markets.

The Tulsa, Okla.-based company filed announcements on Tuesday with the U.S. Securities and Exchange Commission alerting investors to its restructuring plans, totaling $12 billion, and its cash offer and consent solicitations concerning the $3 billion in notes.

The complex arrangement, which streamlines the company’s affiliates and operational structure, allows for the transfer...
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