Williams Being Acquired?

[erfalf]

I suspect doing nothing by the people making the trip would be much more effective.... And is that an expense paid by taxpayers trip to New York for a few days of expense account hotel and dining??   At the same time we are in a billion and a half dollar hole??

I'm sure they flew commercial 

Speaking of, does Williams still keep their two jets here in Tulsa? I used to work across from their hangar.

[cannon_fodder]

Keeping Williams is important. Even if it will have little effect, Dewey is obligated to be seen trying.

That said, the deal is coming undone. Any bribes from Oklahoma/Tulsa to keep Williams here will not be the decision factor. The billions in dollars of buyouts will be.  He who breaks the deal pays... or, they both walk away. 

What I'm saying is I sure hope Williams doesn't use this as an excuse to pull a Citgo and demand payola.

[Townsend]

What I'm saying is I sure hope Williams doesn't use this as an excuse to pull a Citgo and demand payola.

That was my thought. 

That and the mayor calling the governor and saying, "Hey there lover...when was the last time you saw New York?"

[Laramie]

Tough times for energy companies in Oklahoma.   It's just as bad here in Oklahoma City with massive layoffs for Devon, Chesapeake, SandRidge, Continental Resources & Chaparral energy company layoffs.

[Weatherdemon]

I'm sure they flew commercial 

Speaking of, does Williams still keep their two jets here in Tulsa? I used to work across from their hangar.

I believe so.

[Conan71]

That was my thought. 

That and the mayor calling the governor and saying, "Hey there lover...when was the last time you saw New York?"

Just the thought of those two knocking boots kills my appetite for a week.  Thanks.

[LandArchPoke]

LOL, complaining about them going to try to talk the chairmen of the board out of it?
Would you rather they do nothing?

I'm for them doing whatever the hell they can to stop this deal.

Tell me how meeting with the Chairman of the Board of Director for WILLIAMS will make ETE keep jobs in Tulsa? It is a smoke and mirror show for the press that if/when the deal closes and ETE lay's off 1,000 people in Tulsa and 400 in OKC the Mayor and Governor can go remember we flew to NYC and did everything we could.

Why are they not in Dallas talking to the people who said they want to close the Oklahoma operations? Why? Well they're busy flying to NYC to talk to someone who has no influence on that. That is why this pisses me off. If Williams manages to get out of this merger, any job losses will be more up to the price of oil than them not wanting to be in Tulsa. Alan Armstrong the CEO is one of the biggest corporate Tulsa cheerleaders we have, why would he significantly downsize Williams in Tulsa unless it was the only way to stay afloat. Again they are wasting tax payers money on this trip to make it look like they are attempting to do something.

Hey Fallin, Bartlett - GO TO DALLAS AND TALK WITH ETE ABOUT KEEPING JOBS IN OKLAHOMA!!!! That would be productive.

[davideinstein]

They are likely going to file bankruptcy.....

Stock at $6 share now. Good call. 👍

[cannon_fodder]

Stock at $6 share now. Good call. 👍

Williams is at 18.36  and ETE is at 9.37. Both ETE and Williams stock has crept up as the deal appears more and more unlikely.  

[Weatherdemon]

Tell me how meeting with the Chairman of the Board of Director for WILLIAMS will make ETE keep jobs in Tulsa? It is a smoke and mirror show for the press that if/when the deal closes and ETE lay's off 1,000 people in Tulsa and 400 in OKC the Mayor and Governor can go remember we flew to NYC and did everything we could.

Why are they not in Dallas talking to the people who said they want to close the Oklahoma operations? Why? Well they're busy flying to NYC to talk to someone who has no influence on that. That is why this pisses me off. If Williams manages to get out of this merger, any job losses will be more up to the price of oil than them not wanting to be in Tulsa. Alan Armstrong the CEO is one of the biggest corporate Tulsa cheerleaders we have, why would he significantly downsize Williams in Tulsa unless it was the only way to stay afloat. Again they are wasting tax payers money on this trip to make it look like they are attempting to do something.

Hey Fallin, Bartlett - GO TO DALLAS AND TALK WITH ETE ABOUT KEEPING JOBS IN OKLAHOMA!!!! That would be productive.

It sounds like you don't know much about their CEO and the history of this deal.
Their HQ is actually in Houston.

I think the point is to work toward the deal not happening vs just keeping jobs in Tulsa.

Once a merger is complete it's the acquired companies sites that lose jobs. That's the nature of a merger/acquisition.

[LandArchPoke]

It sounds like you don't know much about their CEO and the history of this deal.
Their HQ is actually in Houston.

I think the point is to work toward the deal not happening vs just keeping jobs in Tulsa.

Once a merger is complete it's the acquired companies sites that lose jobs. That's the nature of a merger/acquisition.

Uh what? Energy Transfer Partners HQ is in Oak Lawn - 3738 Oak Lawn Ave, Dallas, TX 75219 to be exact. They also have a significant office presence in the North Park area (they just moved most of the Sunoco operations there which raided Sunoco's Houston and Philly staff). They also have a significant office presence in the Preston Center area.

Link 1: http://www.bizjournals.com/dallas/news/2016/02/16/behind-sunocos-headquarters-relocation-to-dallas.html
Link 2: http://www.philly.com/philly/blogs/inq-phillydeals/Sunoco-LP-moving-to-Texas.html

The Williams board can not change their stance even if they want to now unless you think them paying $2 billion in break up fees is a smart business move. Talking to the Chairman for Williams means nothing, besides maybe if the current lawsuit is ruled a violation of the merger agreement which might allow Williams board to get out of the deal. Otherwise any future staffing decision will be up to ETE - not anyone related to Williams. Even a violation of the merger agreement doesn't mean Williams will have any option out other than to pay the enormous breakup fee. ETE has no way to break up the deal the way the merger agreement was structured. It's even been called one of the most iron clad merger agreements written. The odds of this merger happening are significantly more than it dissolving, even as horrible as most investors think it is.

Kelcy Warren lives in Preston Hallow. You know, the CEO of ETE. Preston Hallow is a neighborhood in Dallas by the way, not Houston.

So yes, I know nothing about this deal  

[Stanley1]

They have a much better shot at talking them out of the merger, than they do of keeping the jobs in Tulsa.  Makes no sense for them to leave all that overhead cost in Tulsa with oil prices where they are.  Simple as that.  Do what it takes to help facilitate an end to this merger.  And that is what they are doing.

[Weatherdemon]

Uh what? Energy Transfer Partners HQ is in Oak Lawn - 3738 Oak Lawn Ave, Dallas, TX 75219 to be exact. They also have a significant office presence in the North Park area (they just moved most of the Sunoco operations there which raided Sunoco's Houston and Philly staff). They also have a significant office presence in the Preston Center area.

Link 1: http://www.bizjournals.com/dallas/news/2016/02/16/behind-sunocos-headquarters-relocation-to-dallas.html
Link 2: http://www.philly.com/philly/blogs/inq-phillydeals/Sunoco-LP-moving-to-Texas.html

The Williams board can not change their stance even if they want to now unless you think them paying $2 billion in break up fees is a smart business move. Talking to the Chairman for Williams means nothing, besides maybe if the current lawsuit is ruled a violation of the merger agreement which might allow Williams board to get out of the deal. Otherwise any future staffing decision will be up to ETE - not anyone related to Williams. Even a violation of the merger agreement doesn't mean Williams will have any option out other than to pay the enormous breakup fee. ETE has no way to break up the deal the way the merger agreement was structured. It's even been called one of the most iron clad merger agreements written. The odds of this merger happening are significantly more than it dissolving, even as horrible as most investors think it is.

Kelcy Warren lives in Preston Hallow. You know, the CEO of ETE. Preston Hallow is a neighborhood in Dallas by the way, not Houston.

So yes, I know nothing about this deal  

Yea, my bad on big D. Too many Houston folks involved...
Sunoco is actually PA I believe though.

Either way, as mentioned in the lawsuit, Warren doesn't want anyone telling him how to run his business and didn't even listen to his former CFO who put the deal together when he said it wasn't going to work under current market conditions. I doubt he would even give the governor and the mayor the time of day.

[Conan71]

Maybe if Mary threatened to sleep with Kelcy, or at least stalk him, he’d re-think the whole thing. 

[cannon_fodder]

The odds of this merger happening are significantly more than it dissolving, even as horrible as most investors think it is.

The world of investors disagrees with you. They put the odds of the deal happening at less than 50%. Hence, Williams trading at $18 when the bid is $43.50. If the deal was seen as likely to go through, there is no reason NOT to hold $43.50 worth of stock you can buy for $18. Buy, hold, deal closes, sell. POOF 150% profit. But most investors seem to think the deal doesn't go through.  Hence, $18 and falling.

Several sources have hinted that ETE is trying to scuttle the deal by making Williams Shareholders vote it down. They have reduced the predicted synergy savings from $2bil to a few hundred million (with $6Bil in new debt they may not be able to raise). They violated the BOD by offering convertible shares (effectively diluting William's shareholder value by 7%). They have made public plans to gut most of their white collar jobs (Williams employs more than ETE, and they are gutting Williams white collar jobs) who are almost all shareholders to some extent.  After unnecessarily filing plans to gut Tulsa and OKC they announced plans to incentive ETE management to stay on - when the industry is tanking, where are they going to go?

The only way out where no one has to pay is if the shareholders vote it down. Williams Board is utterly powerless, if they even suggest to shareholders they should vote it down they owe $1.4B. If ETE backed out they owe a few hundred million and look weak (remember, their founder runs it and has an ego). Williams could play chicken and call ETEs ability to raise the $6bil, causing them to breach and trying to collect breach fees. OR... the companies could put adults in the room and decide this doesn't work anymore.

/wishful thinking?