Speculation grows that a lawsuit filed Saturday by Tulsa-based Williams Companies Inc. to stop Energy Transfer Equity LP from ending its merger with the company will cause a delay in the multi-billion dollar buyout.
Over the weekend, ETE, based in Dallas indicated that prior to the lawsuit, progress was being made toward finalizing the merger. But after the filing of the lawsuit, ETE said Williams has interfered in its efforts to communicating with the board. Now ETE wants Williams to reconsider whether it still approves of the deal that was announced in September 2015.
One thing that could throw the deal in doubt is whether ETE lawyers are able to deliver a tax opinion for its $14 billion takeover of Williams.
The weekend lawsuit by Williams was at least the second against ETE LP. An earlier suit was filed to stop ETE from offering preferred shares to its top shareholders.. Now Williams is alleging that ETE is investigating possibilities of walking away from the merger.
