Mergers & Acquisitions Deal Analysis - Williams Partners Signs Merger Agreement With Williams Pipeline Partners

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					                       Mergers & Acquisitions Deal Analysis - Williams
                       Partners Signs Merger Agreement With Williams
                                      Pipeline Partners

               Reference Code: GDGE0147M&A                                                                                                 Publication Date: JUN 2010



       1         Table of Contents

       1      Table of Contents........................................................................................................................1

       1.1       List of Tables...........................................................................................................................................................................3

       1.2       List of Figures .........................................................................................................................................................................3


       2      Williams Partners Signs Merger Agreement With Williams Pipeline Partners ......................4

       2.1       Deal Overview .........................................................................................................................................................................4

       2.2       Deal in Brief .............................................................................................................................................................................4

       2.3       Williams and WPZ Strategic Restructuring Overview .................................................................................................4

       2.4   WPZ will Emerge as a Largest Diversified MLP after the Merger with WMZ as a Final Step to the Strategic
       Restructuring Plan.............................................................................................................................................................................6

       2.5       WMZ’s Northwest Pipeline Asset Overview ....................................................................................................................8

       2.6    Deal Financials and Valuation ..........................................................................................................................................12
         2.6.1    Companies Involved.......................................................................................................................................................12
         2.6.2    Deal Financ
				
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Description: Mergers & Acquisitions Deal Analysis - Williams Partners Signs Merger Agreement With Williams Pipeline Partners Summary Williams Partners L.P. (WPZ), a master limited partnership that owns natural gas gathering, transportation, processing and treating assets, signed a merger agreement with Williams Pipeline Partners LP (WMZ), an owner and operator of natural gas transportation and storage assets. Under the terms of the merger agreement, WMZ common unit holders will receive 0.7584 WPZ common units for each WMZ common unit they own at the effective time of the merger. As a result of the merger, all currently outstanding WMZ common units and WMZ subordinated units will be extinguished, and Williams Pipeline Partners will be indirectly wholly owned by Williams Partners. The approval and adoption of the merger agreement by Williams Pipeline Partners requires approval by a majority of the outstanding WMZ common units other than WMZ common units held by Williams Partners and its affiliates. It also requires approval of a majority of the outstanding subordinated units of WMZ, as well as the expiration of the applicable waiting period under the Hart-Scott-Rodino Act. Scope - Rationale behind William Partners merger with William Pipeline Patrners - Strategic Benefits for the companies involved - Geography covered - US - Deal Financials and Valuations - Information on William Partners and William Pipeline Partners Reasons to buy - Develop a sound undestanding of the major M&A's, Partnerships, And Joint Ventures taking place in North American Oil & Gas industry - Identify the most lucrative segments to leverage on the growth oppurtunities available in the US oil & gas market - Get a detailed analysis of a deal to enable you to take better decisions - Know about the major companies, which are adopting a divestment or acquisition strategy to enhance their business portfolios - Learn about the key fiancial advisors in a particular segment in the O
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