Summary
The Williams Companies, Inc. (WMB) filed an 8-K on August 2, 2001, to report the successful completion of its acquisition of Barrett Resources Corporation. This strategic move was executed through a two-step transaction involving a cash tender offer followed by a merger, effectively making Barrett Resources a wholly-owned subsidiary of Williams. The acquisition significantly expands Williams' operations, as evidenced by the exchange ratio where Barrett Resources shareholders received 1.767 shares of Williams' common stock for each Barrett share in the second step of the merger. This filing serves as official notification of the completed transaction and includes a joint press release detailing the event.
Key Highlights
- 1Williams Companies, Inc. has completed its acquisition of Barrett Resources Corporation, as of August 2, 2001.
- 2The acquisition was structured as a two-step transaction: a cash tender offer followed by a merger.
- 3Barrett Resources is now a wholly-owned subsidiary of Williams.
- 4Barrett Resources stockholders received 1.767 shares of Williams' common stock for each Barrett share in the merger.
- 5The merger was approved by Barrett Resources' stockholders and has been officially filed with the Secretary of State of Delaware.
- 6A joint press release from Williams and Barrett Resources, dated August 2, 2001, is attached as an exhibit, providing further details on the transaction.