Why did Warren want WMB in the first place? Answer, for growth. Organic opportunities are harder to come by, so Mr, Market is saying, "No growth, no thanks." But that's okay, I was conservative when I cast my lot with ETE due to the uncertain outcome. Now I can add liberally at lower prices.
Just a business transaction, but you obviously don't know the difference between ordinary business and a merger.
Billionaire Kelcy Warren’s legacy as a pipeline dealmaker may now be defined by his most ambitious misstep ....
Then, when it came to his biggest deal yet, a $33 billion takeover of rival Williams Cos., the strategy he’s used at least nine times since 2004 failed him. On Wednesday, he walked away from the merger that had devolved into lawsuits and name calling. The result has put a harsh spotlight on his methods and motives, and spurred concern over whether his company, Energy Transfer Equity LP, will be able to pull off other deals anytime soon.
“Kelcy definitely earned a premium for a while because of the visionary he’s been," said Rob Thummel, a managing director at Tortoise Capital Advisors LLC, citing Warren’s ability to draw investment in the past. "Now, with this saga, this circus, whatever you want to call it,” he said, “that may switch from being a Kelcy premium to a discount.” (Bloomberg)
Pending lawsuit? Now that the merger is off, WMB has no grounds to litigate.
Do you even know what this company does? When was the last - or first - time they drilled a dry hole?
LOL. You avoid a potential mistake, not correct it. But you're right in that Warren was in correction mode. Also, you guys get too personal. Nobody let me down. I bought a ticket for the ETE train, not the WMB baggage car that was dropped on a siding. Doesn't stop me from calling out Warren as a modern day Robber baron.
Neither new, a basher or WMB shareholder. Check my history. Just would not want Warren for a friend, neighbor, relative, coworker or boss if he can't be forthright. Don't blame him for killing the deal, just the manner in which he did so.