Energy Transfer Williams Buyout Guide

ETE created a new entity, Energy Transfer Corp LP (ETC) , to serve as the acquiring vehicle.

The deal required a tax opinion from Latham & Watkins LLP that the transaction would be tax-free. Latham advised they could not deliver this opinion, a condition needed for closing. energy transfer williams buyout

Following the termination, the companies engaged in legal disputes over termination fees. In 2023, the Delaware Supreme Court ruled that ETE was not entitled to a $1.48 billion breakup fee and had to pay Williams a $410 million reimbursement fee plus attorney fees. ETE created a new entity, Energy Transfer Corp