Summary
Williams Companies, Inc. (WMB) filed an 8-K on June 24, 2011, reporting a significant development: a proposal to acquire Southern Union Company (SUG) for $39 per share in cash. This represents a potential strategic move to expand Williams' operations and market presence through an all-cash transaction. The filing includes a press release detailing the proposal and a letter from financial advisors Barclays Bank PLC and Citigroup Global Markets Inc. confirming their involvement in potential financing for the acquisition.
Key Highlights
- 1Williams Companies, Inc. (WMB) made a proposal to acquire Southern Union Company (SUG).
- 2The proposed acquisition price is $39 per share in cash.
- 3The offer is directed to the Special Committee of Southern Union's Board of Directors.
- 4This filing indicates a significant strategic initiative by Williams to grow through acquisition.
- 5The transaction is proposed as an all-cash deal.
- 6Barclays Bank PLC and Citigroup Global Markets Inc. have provided a letter regarding potential financing for the proposed acquisition.