Potter Anderson Serves as Delaware Counsel to Williams Companies in $6B Acquisition of Shale Gas Firm
The Williams Companies agreed to pay nearly $6 billion to acquire control of Access Midstream Partners, a natural gas drilling company active in several areas with shale gas formations. Under the deal, Williams would acquire the remaining 50% of the privately held general-partner interests in Access Midstream that it didn’t already own as well as 55.1 million limited-partner units, giving Williams 50% of the limited-partner interests.
After the deal, Williams Companies intends to merge its master limited partnership with Access Midstream Partners. The Williams Companies said that if completed, the master limited partnership, to be called Williams Partners L.P., would be one of the largest and fastest-growing entities in that category, with expected earnings before interest, taxes, depreciation and amortization of about $5 billion in 2015.
Potter Anderson & Corroon LLP served as Delaware counsel for the Williams Companies. The Potter Anderson team was led by Michael B. Tumas and Thomas A. Mullen.