Williams offering 46.5 million shares at $31 each to bankroll acquisitions
BY Staff Reports
Thursday, December 13, 2012
12/13/12 at 4:15 AM
Local companies are major players in a thriving industry
Original Print Headline: Williams offering shares to back deal
Williams Cos. Inc. will publicly offer 46.5 million shares at $31 each to help pay for its $2.4 billion acquisition of stakes in Access Midstream Partners LP and Access Midstream Partners GP.
The Access deal, announced Tuesday, will give the Tulsa-based natural gas infrastructure company 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.
Access' holdings include properties serving producers in the Bakken, Marcellus, Niobrara and Haynesville shales as well as the Granite Wash play in western Oklahoma and the Texas Panhandle.
Williams previously said it would finance the Access stake with a combination of debt and equity.
The transaction is expected to close by the end of the year.
Global Infrastructure Partners is the other primary 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.