: The merger would have created the world's largest energy infrastructure group, operating over 100,000 miles of oil and gas pipelines.
: Falling oil and natural gas prices in late 2015 and early 2016 made the high cash component of the deal ($6.05 billion) increasingly burdensome for Energy Transfer. energy transfer williams buyout
: ETE targeted significant cash flow diversification and commercial opportunities across an expanded asset base, particularly in the Marcellus and Utica shale regions. : The merger would have created the world's
: The FTC had initially raised concerns about reduced competition in Florida, requiring ETE to divest Williams' interest in the Gulfstream Natural Gas System to proceed. Litigation and Financial Outcomes : The FTC had initially raised concerns about
: The merger was contingent on a Section 721(a) tax opinion from counsel (Latham & Watkins). Due to the changing market, counsel became unable to certify the transaction as tax-free, providing ETE with a legal basis to terminate the deal.