The amended disclosure states the following: ETE’s original due diligence-based projection, which was presented to Williams, of over $2 billion in annual synergies by year 2020 as a result of the proposed merger, which was published by Williams and ETE in a Sept. 28, 2015, joint press release and web links, and in the companies’ SEC filings, should not be relied on. As a result of the joint integration planning process in early 2016 by Williams and ETE, a new synergies estimate was built from the ground up, and the parties now estimate merger-related synergies of only $126 million annually by 2020 (a difference of $1.874 billion or 94%), and have further estimated that even if market conditions return to their July 2015 levels, merger-related synergies would be $543 million, not $2 billion.
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If you mean compared to Alan Armweak and Kelcy maxiPad, probably not any different
- other than getting away with a disgracefully massive disposal of long term hard workers
to clean the books, most of whom happened to to be over 50 years old and all the while so blantently making a disgraceful mockery of a " merger". More, I am sure to be revealed about this whole mismanaged (fom practically day one) and manufactured unlikely mess. Vote yes, even so folks.
Exactly...
I wonder how former Chesapeake Energy CEO Aubrey McOlendon would have handled this merger?
Possibly the same?
Oil is up 4% and natural gas 2. 4%, today. Vote yes
I only see one way this merger is approved. Williams agrees to eliminate the cash portion and replace it with some type of stock offer from ETE. That would preserve the tremendous potential of this merger and eliminate the cash problem. Both stocks would soar over the next few years if this happened. Hard to see it happening, hope it does.
Agreed, or they are really bad at math.
From a company that can't bring a capital project in on time or on budget, can't accurately predict anything in the NE accurately, or can't hit an operating budget, I think I'll take any predictions on $$ with a grain of salt. For a company that claims integrity is one of its core values, they pretty much say whatever they think will get them what they want. Don't let facts get in the way.
There isn't any difference in oil prices from today as opposed to July 2015. On July 30 OIL was trading at $48. Exactly where it is today. IT appears both ETE and Williams are looking in the rear view mirror, and are focusing on prices that happened at the bottom. Just an excuse to get out of the merger.
Doesn't look good at all if you need another servance check.
I think it is funny that Williams is admitting that the whole basis for the merger was not reliable, that sums it up in many ways.. I think most would agree that the talent assessment and decision to lay off employees was not reliable as well, The sad part is that many employees are suffering because of this.
The "NOT RELIABLE " post sounds like a propaganda post from the Praetorian Guards surrounding
the Williams and ETE fat cats at the top. Just more self proclaimed corporate jargon, while all other professional industry financial firms have actual data analitics, which state the exact opposite.
Vote Yes.
Natural gas prices and oil prices today are pretty close to what they where in July 2015. Everyone is predicting they are moving up. Don't get this statement about prices returning to July 2015 levels. All the experts have said the market has bottomed and it is likely to continue to rise and it is likely prices will be higher than July 2015 by the end of the year. Vote yes.
If figures, a ton of sand bagging going on, people trying to save their jobs, it is
a no brainer, the real cost savings are what was initially projected, all one needs to do is cut the fat out, that will never happen, unless the merger is completed. Vote YES!