Williams offering shares to fund Access acquisition
BY ROD WALTON World Staff Writer
Wednesday, December 12, 2012
Williams Cos. Inc. will publicly offer 46.5 million shares to help the Tulsa-based natural gas infrastructure firm pay for its $2.4 billion stake in Access Midstream Partners LP and Access Midstream Partners GP.
The Access deal, announced Tuesday, gives Williams a 50-percent share of Access’ general partner interest and 25 percent of the master limited partnership which owns Chesapeake Energy Corp’s former pipeline and processing assets. Global Infrastructure Partners is the other main owner in Oklahoma City-based Access.
The underwriters have been granted a 30-day option to purchase up to an additional 6,975,000 shares of common stock. Citigroup, Barclays, and UBS Investment Bank are acting as joint book-running managers.
