UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): July 15, 2011
THE WILLIAMS COMPANIES, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware | 1-4174 | 73-0569878 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
One Williams Center, Tulsa, Oklahoma | 74172 | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrants Telephone Number, Including Area Code: 918/573-2000
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01. | Regulation FD Disclosures |
On July 15, 2011, The Williams Companies, Inc. (the Company) issued a press release responding to Southern Union Companys decision to engage in discussions with the Company with regard to the Companys proposal to acquire Southern Union Company. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information is being furnished pursuant to Item 7.01, Regulation FD Disclosure. The information being furnished in this Item 7.01 and in the attached Exhibit 99.1 is not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
Item 8.01 | Other Events |
To the extent required, the information included in Item 7.01 of this Form 8-K is hereby incorporated by reference into this Item 8.01.
Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits
Exhibit No. |
Description | |
99.1 | Press Release of The Williams Companies, Inc., dated July 15, 2011. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE WILLIAMS COMPANIES, INC. | ||
By: | /s/ Sarah C. Miller | |
Sarah C. Miller | ||
Assistant Secretary |
DATED: July 15, 2011
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EXHIBIT INDEX
Exhibit No. |
Description | |
99.1 | Press Release of The Williams Companies, Inc., dated July 15, 2011. |
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Exhibit 99.1
DATE: July 15, 2011
MEDIA CONTACTS:
Julie Gentz | Joele Frank / Andrew Siegel | |||||
Williams | Joele Frank, Wilkinson Brimmer Katcher | |||||
(918) 573-3053 | (212) 355-4449 | |||||
INVESTOR CONTACTS: | ||||||
Travis Campbell | Sharna Reingold | David Sullivan | Tom Gardiner | |||
Williams | Williams | Williams | Georgeson, Inc. | |||
(918) 573-2944 | (918) 573-2078 | (918) 573-9360 | (212) 440-9872 |
Williams Responds to Southern Unions Decision to Engage in Discussions
TULSA, Okla., Williams (NYSE: WMB) today commented on the announcement by Southern Union Company (NYSE: SUG) that the Special Committee of its Board of Directors has authorized Southern Union to engage in discussions with Williams regarding Williams $44.00 per share all-cash proposal to acquire all the outstanding shares of Southern Union. The Special Committee of Southern Union made the determination to engage in discussions and to provide information to Williams pursuant to Section 5.4 of Southern Unions merger agreement with Energy Transfer Equity, L.P. (NYSE: ETE) (Energy Transfer).
We are confident that our all-cash, premium proposal is in the best interests of both companies shareholders, and we are pleased that Southern Union will engage in discussions with Williams, said Alan Armstrong, Williams President and Chief Executive Officer. We look forward to working together with Southern Union and to quickly executing a definitive merger agreement.
As previously announced, on July 14, 2011, Williams proposed to acquire all of Southern Unions outstanding common stock for $44.00 per share in cash. Williams enhanced proposal represents a premium of 10% over the nominal purchase price in Southern Unions recently revised agreement with Energy Transfer, announced on July 5, 2011. The Williams proposal also represents a premium of 56% over Southern Unions closing share price of $28.26 on June 15, 2011, the last trading day prior to the initial Energy Transfer announcement.
Williams has strengthened its commitment to gaining regulatory approval and will close the transaction on a timeline consistent with the proposed Energy Transfer transaction. Williams is committed to take all necessary actions to obtain federal anti-trust clearance and will otherwise provide the same degree of regulatory certainty as the proposed Energy Transfer transaction.
The Williams proposal is not subject to any financing conditions. Williams is prepared to deliver bank financing commitments to finance the all-cash purchase price concurrent with signing the merger agreement.
Barclays Capital and Citi are serving as financial advisors to Williams and Cravath, Swaine & Moore LLP and Gibson, Dunn & Crutcher LLP are serving as its legal advisors.
About Williams (NYSE: WMB)
Williams is an integrated natural gas company focused on exploration and production, midstream gathering and processing, and interstate natural gas transportation primarily in the Rocky Mountains, Gulf Coast, Pacific Northwest, Eastern Seaboard and the Marcellus Shale in Pennsylvania. Most of the companys interstate gas pipeline and midstream assets are held through its 75-percent ownership interest (including the general-partner interest) in Williams Partners L.P. (NYSE: WPZ), a leading diversified master limited partnership. More information is available at www.williams.com. Go to http://www.b2i.us/irpass.asp?BzID=630&to=ea&s=0 to join our e-mail list.
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Portions of this document may constitute forward-looking statements as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the safe harbor protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the companys annual reports filed with the Securities and Exchange Commission.
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