© 2015 The Texas Lawbook.
By Natalie Posgate
(Sept. 28) – Dallas-based Energy Transfer Equity announced Monday morning its plans to acquire Tulsa-based The Williams Companies in a merger agreement worth $37.7 billion.
The two pipeline companies turned to a group of law firms, many with Texas lawyers, to handle the transaction.
Latham & Watkins represented ETE in the merger, with Houston corporate partners William Finnegan IV and Debbie Yee as the lead attorneys. They received assistance from associates Chad MacDonald and Jayne Wabeke.
Other Houston-based Latham attorneys on the deal included partner Tim Fenn and associate Bryant Lee on tax matters, as well as partner Craig Kornreich and associates Pamela Kellet and Jordan Roberts on finance matters. Attorneys from the firm’s Los Angeles and Washington, D.C. offices were also involved regarding tax and regulatory aspects of the transaction.
According to Latham, New York law firm Wachtell, Lipton, Rosen & Katz served as ETE’s “primary counsel” in the deal.
Latham has handled a multitude of deals for the Energy Transfer family of companies. One of the more recent matters was Energy Transfer Partners’ $18 billion merger with Regency Energy Partners, which closed on April 30. Low and behold, Baker Botts was on the other side of that deal.
Gibson, Dunn & Crutcher and Cravath, Swaine & Moore represented Williams on the transaction. Gibson Dunn’s deal team was primarily based outside of Texas, but included antitrust partner Sean Royall and corporate associates Jonathan Whalen and Timothy Fisher in Dallas.
As part of the merger agreement, Williams and its master limited partnership, Williams Partners, have terminated their previously announced, $13.8 billion merger. Williams has agreed to pay a $428 million termination fee to Williams Partners.
Houston corporate partners Josh Davidson and Tull Florey of Baker Botts led the termination transaction for Williams Partners.
About a year ago, the Davidson-Florey duo represented the conflicts committee of Williams’ master limited partnership, Williams Partners, in its $50 billion merger with fellow Oklahoma-based MLP, Access Midsteam Partners – which Latham and Gibson Dunn were also involved in.
James Osborne of The Dallas Morning News has more details on the ETE-Williams merger here.
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