Deals
Williams Sweetens Terms for Access Midstream Merger
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Williams Cos. sweetened a proposal to merge two pipeline partnerships it controls as the company expands its natural gas pipeline and processing network to handle booming North American output.
A revised agreement boosts the per-unit value to holders of Access Midstream Partners LP by about $1.02, the companies said in joint statement yesterday. The agreement calls for 0.86672 Access units to be exchanged for each publicly held unit in Williams Partners LP. Williams had proposed an exchange of 0.85 Access units, plus 81 cents each to be paid by Access.