Corvex Urges New Directors Of Williams To Analyze Combination With EPD

(RTTNews) - Corvex Management LP, an investment firm headquartered in New York, issued a letter to the newly added directors of The Williams Companies (WMB) Stephen Bergstrom, Scott Sheffield and William Spence. Corvex urged the directors to form a strategic review committee to analyze the merits of a strategic combination with Enterprise Products Partners LP and other players in the space, and take a sober look at the stand-alone potential of the business.

"The statement by EPD that WMB failed to engage with EPD, thereby causing EPD to perceive "no actionable path forward", makes it crystal clear to me both that the current board is not functioning properly and that it is imperative to quickly populate the board with a majority of qualified, independent directors. With EPD at our doorstep, getting the board "right" at WMB should not be left hanging in the wind until late November," said, Keith Meister, Managing Partner of Corvex Management LP.