The Williams Companies Thursday said its shareholders and thoseof MAPCO approved measures necessary to complete Williams’non-taxable, stock-for-stock acquisition of MAPCO. Federal TradeCommission clearance is expected in time for a first-quarterclosing. Thursday, Williams shareholders approved a charteramendment to provide sufficient common shares and authorizedWilliams’ board of directors to issue stock to MAPCO shareholders.
The companies announced Nov. 24 that they had agreed to mergeproviding for Williams to acquire MAPCO for a fixed ratio of 1.665of a share of Williams common stock for each share of MAPCO commonstock. Also Thursday, MAPCO shareholders approved the acquisition.”The merger planning is complete and our organizations poised tobegin delivering results that live up to the promise of thecombination of these two companies as soon as the transaction iscompleted,” said Williams Chairman Keith Bailey. “We only lack thefinal Federal Trade Commission approval to move forward toclosing.”
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