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Energy

Williams Raises Acquisition Capital (WMB, WPZ)

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By Jon C. Ogg Updated Published
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Williams Companies, Inc. (NYSE: WMB) has just filed to raise capital under a public offering of 26,000,000 shares of its common stock.  At current market prices the offering would raise close to $793 million.

The company intends to use the net proceeds from the offering to purchase additional Williams Partners L.P. (NYSE: WPZ) common units.  This is in connection with the financing of the previously announced acquisition by Williams Partners L.P. of Caiman Eastern Midstream, LLC that on March 19, 2012.

Barclays, Citigroup, UBS Investment Bank, Deutsche Bank Securities and J.P. Morgan are acting as joint book-running managers. The underwriters have been granted a 30-day option to purchase up to an additional 3,900,000 shares of common stock.

Williams shares closed down 0.3% at $30.59 and the 52-week trading range is $21.90 to $33.47.  The company’s market capitalization rate is now $18.1 billion based upon the most recent closing price.  The stock is indicated down about 1.9% after the close on the news.

Realistically, this may be one of those offerings that should have been anticipated.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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