Energy Transfer Williams Buyout -

The proposed $33–$37.7 billion buyout of by Energy Transfer Equity, L.P. (ETE) was one of the most high-profile failed mergers in the energy sector. Announced in September 2015, the deal collapsed in June 2016 following a sharp downturn in energy prices and a protracted legal battle over tax technicalities. Deal Overview & Strategic Rationale

: The merger was contingent on a Section 721(a) tax opinion from counsel (Latham & Watkins). Due to the changing market, counsel became unable to certify the transaction as tax-free, providing ETE with a legal basis to terminate the deal. energy transfer williams buyout

ETE and Williams Receive FTC Clearance for Proposed Acquisition The proposed $33–$37

: The merger would have created the world's largest energy infrastructure group, operating over 100,000 miles of oil and gas pipelines. Deal Overview & Strategic Rationale : The merger

: Announced in September 2015 as a combination valued at approximately $37.7 billion , including assumed debt.

After years of litigation, Delaware courts ruled that ETE was not entitled to a $1.48 billion breakup fee from Williams.