ETE Equity Gambit Snarled $38B Williams Deal, Ex-CFO Says

Law360 (May 10, 2021, 4:58 PM EDT) -- The Williams Cos.' former top financial officer testified in Chancery Court Monday that equity maneuvering by Energy Transfer Equity LP disrupted what became a doomed tie-up of the two energy pipeline giants during the opening of a Delaware trial on Williams' efforts to recover a related, $410 million termination fee.

Donald Chappel, who announced his retirement from Williams shortly before the collapse of what was originally a $38 billion deal, was the first witness in a planned six-day trial on the company's claims that ETE must pay $410 million that Williams paid to get out of an earlier agreement to buy...

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