Liam Denning, Columnist

Williams Board Left Early for the Weekend

An ignominious start to the third quarter after a blockbuster second.

July 1, 2016 at 4:29 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

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Williams Cos. is leaving the second quarter with a bang -- that bang being the door to the boardroom, as almost half the occupants storm out.

It's a fitting end not merely to the Energy Transfer takeover attempt on Williams, which segued from "At Last" to "Please Release Me" in all of nine months. It also rounds out what has been an incredible quarter for the whole pipeline and master limited partnerships sector -- but one that came with a catch.