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News Breaks
June 4, 2014
09:14 EDTETE, RGPRegency Energy Partners raises $400M of common equity
Regency Energy Partners LP (RGP) announced that it sold 14.4 million common units to ETE Common Holdings, LLC, a wholly owned subsidiary of Energy Transfer Equity, L.P. (ETE), which owns the general partner of Regency, for $400M. Proceeds from the issuance will be used to pay down borrowings on the Partnership’s revolving credit facility, to redeem certain senior notes of the Partnership and for general partnership purposes.
News For RGP;ETE From The Last 14 Days
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July 2, 2015
13:11 EDTETEEnergy Transfer refuses 'standstill' clause in Williams auction, Bloomberg says
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12:37 EDTETEWilliams said to have contacted over 15 potential suitors, Bloomberg reports
Energy Transfer Equity's (ETE) CEO is said to push back against Williams' (WMB) auction rules, according to Bloomberg.
June 26, 2015
16:32 EDTETEStocks end week lower with Greece still searching for deal
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07:51 EDTETEEnergy Transfer Equity weakness creates buying opportunity, says Wells Fargo
After meeting with ETE's (ETE) management, Wells Fargo says that, in a worst case scenario, an acquisition of Williams (WMB) would not materially impact ETE's growth. However, the firm thinks the merger could boost the company's results if it can extract commercial synergies from the deal. Wells says that ETE wants to carry out the merger in order to boost its growth in 2019 and beyond. But ETE also believes that it could add $3B-$5B of additional organic growth projects if it acquires Williams, while generating more cash flow from Williams' existing projects, according to the firm.
June 25, 2015
06:40 EDTETEWilliams downgraded to Neutral from Overweight at JPMorgan
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June 24, 2015
15:47 EDTETEBankers see Energy Transfer having upper hand for Williams, dealReporter says
Energy industry bankers believe Energy Transfer Equity (ETE) has a good chance of winning its hostile bid for Williams (WMB), with one guessing Williams is likely to sell at a higher offer, but still to Energy Transfer, and another believing Energy Transfer will likely have to tweak the offer terms to change Williams’ mind, said dealReporter, according to contacts. Both bankers referenced in the report said other suitors are likely to emerge, with Kinder Morgan (KMI) and Enterprise Products Partners (EPD) named as being "equally capable" of pursuing a deal.
June 23, 2015
07:36 EDTETEEnergy Transfer Equity bid for Williams positive, says RBC Capital
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07:24 EDTETECredit Suisse to hold a conference
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June 22, 2015
17:04 EDTETEOn The Fly: Top stock stories for Monday
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13:20 EDTETEOn The Fly: Top stock stories at midday
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09:14 EDTETEOn The Fly: Pre-market Movers
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08:47 EDTETEKinder Morgan not likley to bid Williams, says Credit Suisse
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07:49 EDTETEEnergy Transfer Equity volatility low into buyout of Williams for $48B
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07:35 EDTETEWilliams Companies volatility low into rejecting $48B buyout offer
Williams Companies (WMB) July weekly call option implied volatility is at 23, July is at 22, August is at 24; compared to its 52-week range of 16 to 51, suggesting decreasing price movement into rejecting an unsolicited buyout offer worth $48B from Energy Transfer Equity (ETE), but has hired banks to explore alternatives, including a merger, a sale of the company or simply continuing on its current path.
07:18 EDTETEWilliams likley to trade through $64 offer price, says Credit Suisse
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05:16 EDTETEEnergy Transfer Equity confirms proposal to merge with Williams
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05:14 EDTETEEnergy Transfer Equity confirms proposal to merge with Williams
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