Williams Says ETE Chair's Offering Broke Merger Pact
Law360, New York (April 6, 2016, 3:22 PM EDT) -- Energy infrastructure company The Williams Companies sued the top exec at would-be merger partner Energy Transfer Equity LP in Texas state court Wednesday, claiming he violated several provisions of their pact by holding a private securities offering that guarantees him $200 million in cash distributions a year.
Saying his actions constitute tortious interference with the agreement governing what was at the time of its September announcement a $37.7 billion tie-up between two energy leaders, Williams claims ETE chairman Kelcy L. Warren orchestrated a March private offering that guarantees he and select ETE investors will be paid the same amounts they currently...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!