Summary
The Williams Companies, Inc. (WMB) filed an 8-K on May 1, 2001, to disclose an unintentional disclosure of a potential acquisition. During a Board of Directors meeting, external individuals were mistakenly connected to the call by a vendor. Before the error was rectified, Williams officers mentioned that the meeting was to consider a potential proposal to acquire Barrett Resources Corporation (Barrett). This disclosure occurred in the context of Barrett Resources actively seeking strategic alternatives in response to an unsolicited tender offer from Shell Oil Company. Williams emphasized that no terms of the potential proposal were disclosed, nor was any Board action taken. Due to the accidental and non-intentional nature of this disclosure, Williams stated it does not intend to provide further updates on this matter at this time.
Key Highlights
- 1Williams Companies, Inc. (WMB) disclosed a potential acquisition of Barrett Resources Corporation (Barrett).
- 2The disclosure was made unintentionally due to a vendor error connecting external individuals to a Board of Directors meeting teleconference.
- 3Williams officers stated the Board was considering a potential proposal to acquire Barrett.
- 4No specific terms of the potential acquisition were revealed.
- 5No formal action was taken by the Board of Directors regarding the potential acquisition.
- 6Barrett Resources is currently exploring strategic alternatives in response to a tender offer from Shell Oil Company.
- 7Williams does not plan to provide further updates due to the non-intentional nature of the disclosure.