The Tulsa-based Williams Companies will hold a special meeting of shareholders at its headquarters on Monday at 9 a.m. in order to vote on the merger agreement with Energy Transfer Equity, according to a new report issued by The Tulsa World.
On Friday, a Delaware chancery court judge ruled in ETE’s favor over the long-awaited tax opinion, allowing the company to terminate the transaction. It is unknown whether either party will appeal the Delaware decision.
“Williams remains committed to closing the merger under the Merger Agreement entered into with ETE on September 28, 2015,” said the company in a press release issued late Friday afternoon. “If ETE attempts to terminate the Merger Agreement, Williams will take appropriate actions to enforce its rights under the Merger Agreement and deliver its benefits to Williams’ stockholders.”
According to The Tulsa World report, ETE does not believe Latham & Watkins LLP can deliver the opinion before the June 29 merger deadline.
Despite Judge Sam Glasscock’s decision in favor of ETE, Williams asserted that the Dallas-based company is in breach of contract due to its failure to provide the tax opinion.