Williams shareholders were offered a combination of ETC common shares and cash ($6.05 billion in aggregate).
ETE created a new entity, Energy Transfer Corp LP (ETC) , to serve as the acquiring vehicle. energy transfer williams buyout
The deal required a tax opinion from Latham & Watkins LLP that the transaction would be tax-free. Latham advised they could not deliver this opinion, a condition needed for closing. Williams shareholders were offered a combination of ETC