Williams to acquire $350M-$580M Access units to support Chesapeake deal

theflyonthewall.com

Williams (WMB) and GIP's Fund II each committed to acquire between approximately $350M-$580M of Class B payment-in-kind units, Class C subordinated units and potentially common units directly from Access Midstream Partners (ACMP) to support ACMP's acquisition of the Chesapeake (CHK) assets. The Class B and C units are convertible at the option of the holder or ACMP into common units on the day after the record date for the distribution to common units for the fiscal quarters ending Dec. 31, 2014, and Dec. 31, 2013, respectively.

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