The Williams Companies completed the acquisition of Mapco Inc.shifting the bulk of the company’s assets into an unregulatedbusiness environment.
The deal is valued at $3.1 billion based on a fixed exchangeratio of 1.665 shares of Williams stock for each share of Mapcostock and the $31.3125 per share price of Williams’ common stock atFriday’s close of trading. Federal Trade Commission approval wasannounced Friday.
“We believe even more today in the fit between the twobusinesses and would expect to begin quickly implementing theenhanced opportunities the combination brings,” said Williams CEOKeith E. Bailey. “Mapco operations should immediately add to ourongoing earnings and open new business opportunities throughoutWilliams.”
Much of the organizational structure for the combinedWilliams-Mapco organization is complete. Mapco businesses will fallunder the direction of Stephen L. Cropper, CEO of Williams’ energyservices group.
The new energy services organization, which will have $6.2billion in assets, will include:
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