Glasscock found The Williams Companies' structuring of a private offering wasn't excused, which qualifies as an unmet condition and entitles it to payment of the termination fee.
December 30, 2021 at 04:46 PM
2 minute read
A pipeline company will be required to pay another $410 million for conditions not being met when breaking off a merger, Delaware Court of Chancery Vice Chancellor Sam Glasscock III decided Wednesday.
The opinion follows Glasscock’s finding that Texas-based Energy Transfer LP, which owns and operates pipelines for natural gas, crude oil and related products, was entitled to back out of the deal with The Williams Companies Inc., an Oklahoma-based natural gas infrastructure owner and operator.
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