A year after a failed takeover by Dallas-based Energy Transfer Equity, officials at Tulsa’s Williams Cos. believe they’ve beefed up the company stock to a point where it would be costly for another company to try the same thing.
In a report by the Tulsa World, executives explained company stock has risen 50 percent in the past 15 months, prompting CEO Alan Armstrong to say, “That’s what we’re focused on and that’s what will keep us healthy and independent.”
He told the World the company is making sure its stock price reflects the value of its business. The company started refocusing immediately after the merger with ETE was canceled. Six members of the 13-board of directors resigned following their failed effort to dump Armstrong as CEO.
The company then set out on a course of financial restructuring. It sold some assets and Armstrong says it put the company “on very solid financial feet.”