Here is a good question: Williams has announced it is open to renegotiating the terms of the merger. Anyone really know how that may affect the Change in Command severance payout? In other words, (assuming there is a merger of some sort), is that payout only good for the merger in its original terms, or for any merger regardless??? That, is the question! Many thousands of dollars on the line for many folks.
6 replies (most recent on top)
When the ceo of ETE says the deal cannot close without having major restructing it seems ify. Williams "anticipated" a closing, said it a number of times, looks like something was missed big time are you suprised? Doesn't look good if you expect a check.
Change of control is the same regardless (even if some other company bought Williams). The enhanced packages for the severed will be honored if there is a change of control prior to 12/31/16. Shareholders began receiving ballots this week. I understand Williams employees who own stock received ballots from Fidelity
This truly has been an exhibition of incompetence married to ego. So many millions of dollars, and potentially billions of dollars, have been wasted on this foolish adventure. Both companies have lost much during this debacle and there will undoubtedly be more layoffs as a result. Imagine how many people will get laid off/assets sold if Williams has to pay the $1.5B penalty if the deal falls through. However, if the deal does go through imagine how many people will get laid off because of the "synergy" that needs to be realized.
Potentially $1.5 billion dollars, flushed down the toilet. Remember when AA asked us to be sure and turn the lights off when we leave our offices...
Hello
It does not look good, for a deal, CNBC said this morning that they aren't talking and it would be decided in court. Both sides have lost a ton of credit ability not to mention the huge damage this has inflicted on employee morale. Unfortunately there will be no additional servance without the deal and the servance accepted wasn't all that generous, a bad deal for anybody that got hammered except for ones that had many years of services and where ready to retire. I am moving on.
It was my understanding, yet limited, that if the deal goes through by Dec 31 2016 we get paid no matter what. However, I could be wrong. As someone that was laid off, I sure as heck hope I'm right and the deal gets done in any form.
I think if the deal goes through at all the enhanced severance will pay out. It would be terrible if it didn't.