Energy Transfer Equity buying Williams Cos. for $32.61B

FILE - In this Wednesday, April 15, 2009, file photo, an unidentified worker checks a bit on a rig being used to drill a well during a tour of facilities of natural gas producer Williams in Rulison, Colo. Energy Transfer Equity is buying pipeline operator The Williams Cos. for approximately $32.61 billion, the companies announced, Monday, Sept. 28, 2015. (AP Photo/David Zalubowski, File) FILE - In this Wednesday, April 15, 2009, file photo, an unidentified worker checks a bit on a rig being used to drill a well during a tour of facilities of natural gas producer Williams in Rulison, Colo. Energy Transfer Equity is buying pipeline operator The Williams Cos. for approximately $32.61 billion, the companies announced, Monday, Sept. 28, 2015. (AP Photo/David Zalubowski, File)

By Associated Press September 28, 2015 1 min read

DALLAS (AP) – Energy Transfer Equity is buying pipeline operator The Williams Cos. for approximately $32.61 billion.

The companies said Monday that the combination creates one of the five biggest energy companies in the world.

Energy Transfer Equity LP will pay $43.50 per share, a 4.6 percent premium to Williams’ Friday closing price of $41.60. Williams’ shareholders can choose shares of Energy Transfer Equity affiliate Energy Transfer Corp., cash or a combination of both.

The companies put the deal’s value at about $37.7 billion, including debt and other liabilities.

Williams’ stockholders will also receive a one-time special dividend of 10 cents per share that will be paid immediately before the acquisition closes.