Williams Cos. +3% AH as Corvex discloses 5.28% stake


Williams Cos. (WMB+3% AH as Corvex Management discloses a 5.28% stake and seeks to add two members to WMB's board of directors.

Corvex says it has held talks with WMB to enhance the structure and value of the company's investments and assets and to optimizing capital structure and dividend policy; it requests WMB to add Corvex head Keith Meister and Soroban Capital's Eric Mandelblatt to WMB's board.

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Comments (4)
  • Minutemen
    , contributor
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    Yay, me. Long WMB.
    16 Dec 2013, 07:23 PM Reply Like
  • mulligan2
    , contributor
    Comments (127) | Send Message
     
    Is this a good thing?
    16 Dec 2013, 10:32 PM Reply Like
  • jumpnjoey77
    , contributor
    Comments (1221) | Send Message
     
    Probably not. Extract value and load them up with debt and move to the next one is the typical formula.
    17 Dec 2013, 02:38 AM Reply Like
  • Minutemen
    , contributor
    Comments (2287) | Send Message
     
    I see this as a good thing. Corvex Capital is a hedge fund managed by Keith Meister, who was formally Carl Ichan's right hand man. These activist investors have history of increasing value in a company. An interesting development nonetheless.
    17 Dec 2013, 08:02 AM Reply Like
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