Ponca City, OK

Now: 72 °F

Currently: Mostly Cloudy

Hi: 91 °F | Lo: 66 °F

Saturday

Hi: 90 °F 

Lo: 69 °F

Sunday

Hi: 82 °F 

Lo: 66 °F

Monday

Hi: 82 °F 

Lo: 64 °F

Tuesday

Hi: 84 °F 

Lo: 62 °F

Wednesday

Hi: 84 °F 

Lo: 64 °F

Tulsa-based Williams buys all shares of unit in $10.5B deal

The Associated Press and Tulsa World - May 19, 2018 10:02 am

(Information from: Tulsa World, http://www.tulsaworld.com)
TULSA, Okla. (AP) – A Tulsa-based natural gas company has agreed to acquire all public equity of its subsidiary.
The Tulsa World reports that Williams Companies will purchase all of the outstanding public common units of Williams Partners as part of an agreement announced Thursday. The stock-for-unit transaction is valued at $10.5 billion.
The announcement follows a Federal Energy Regulatory Commission decision earlier this year to revise a tax policy permitting master limited partnership interstate oil and natural gas pipelines to maintain an income tax allowance in cost-of-service rates.
Williams Companies CEO Alan Armstrong says the deal will maintain the income tax allowance and simplify the company’s corporate structure.
Williams Companies owns nearly 75 percent of Williams Partners, which owns and operates more than 33,000 miles of pipelines, including the Transco pipeline.

 

Latest Stories

Student airlifted after stabbing at Oklahoma school

LUTHER, Okla. (AP) – Investigators say a student has been airlifted to a hospital after a...

YMCA Board votes to terminate operating agreement with city

The YMCA of Ponca City Board of Directors voted on Thursday, Aug. 16, to terminate the...

Back to School Bash set for Aug. 25

The 15th annual Po-Hi Back to School Bash will be held from 6 to 9:30 p.m. Saturday,...