Williams Partners LP and Access Midstream Partners LP amended the terms of their merger agreement, said pipeline operator Williams Companies Inc , which owns controlling interests in the two master limited partnerships. Under the revised terms, Williams Partners will merge with a subsidiary of Access Midstream in a unit-for-unit exchange at a ratio of 0.86672 common units of Access Midstream for every Williams common unit.Williams first proposed the merger in June, with Access Midstream acquiring William Partners at an exchange ratio of 0.85 plus an additional $0.81 per Williams Partners' common unit in cash or additional Access Midstream common units.Williams said it agreed to reduce the exchange ratio it would receive in the merger to offset the about $1.02 of value provided to the Williams Partners' public unit holders.After the deal, Williams Partners will be wholly owned by Access Midstream and the merged master limited partnership (MLP) will be named Williams Partners LP.
Access Midstream Partners, L.P., formerly Chesapeake Midstream Partners, L. Shares of ACMP fell by 0.44% or $-0.27/share to $60.83. In the past year, the shares have traded as low as $49.40 and as high as $66.71. On average, 434394 shares of ACMP exchange hands on a given day and today's volume is recorded at 318746.
The Williams Companies, Inc. (Williams), is an energy infrastructure company focused on connecting North America?s hydrocarbon resource plays to markets for natural gas, natural gas liquids (NGLs), and olefins. Shares of WMB traded higher by 0.26% or $0.14/share to $53.24. In the past year, the shares have traded as low as $33.98 and as high as $59.77. On average, 6380500 shares of WMB exchange hands on a given day and today's volume is recorded at 4639534.
Williams Partners L.P. focuses on natural gas transportation; gathering, treating, and processing; storage; natural gas liquid (NGL) fractionation, and oil transportation. Shares of WPZ fell by 0.93% or $-0.47/share to $50.00. In the past year, the shares have traded as low as $43.89 and as high as $57.29. On average, 965942 shares of WPZ exchange hands on a given day and today's volume is recorded at 1287558.
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