Williams Companies Acquires Full Control of Mountain Valley Pipeline for $1.2B

TL;DR

Williams is buying out MVP partners for $1.2B, taking full control of the pipeline.

AI Summary

On August 8, 2024, The Williams Companies, Inc. announced a definitive agreement to acquire all of the outstanding equity interests in Mountain Valley Pipeline, LLC (MVP) from its joint venture partners. This acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions. The transaction is valued at approximately $1.2 billion.

Why It Matters

This acquisition consolidates Williams' ownership of a key natural gas pipeline, potentially enhancing its control over critical energy infrastructure and future cash flows.

Risk Assessment

Risk Level: medium — The acquisition is subject to closing conditions and regulatory approvals, which could impact the completion or terms of the deal.

Key Numbers

• $1.2B — Acquisition Value (Total cost for acquiring full ownership of MVP)
• Q4 2024 — Expected Closing (Anticipated timeframe for the transaction to be finalized)

Key Players & Entities

• The Williams Companies, Inc. (company) — Registrant and acquirer
• Mountain Valley Pipeline, LLC (MVP) (company) — Target of acquisition
• $1.2 billion (dollar_amount) — Acquisition value
• August 8, 2024 (date) — Date of the agreement
• fourth quarter of 2024 (date) — Expected closing period

FAQ

Key Financial Figures

• $1.00 — nge on which registered Common Stock, $1.00 par value WMB New York Stock Exchan
• $450 million — ten public offering (the "Offering") of $450 million aggregate principal amount of its 4.800
• $300 million — nior Notes due 2029 (the "2029 Notes"), $300 million aggregate principal amount of its 5.150
• $750 million — tes due 2034 (the "New 2034 Notes") and $750 million aggregate principal amount of its 5.800
• $1.0 billion — and will trade interchangeably with the $1.0 billion aggregate principal amount of such note

Filing Documents

• d760314d8k.htm (8-K) — 32KB
• d760314dex11.htm (EX-1.1) — 187KB
• d760314dex41.htm (EX-4.1) — 195KB
• d760314dex51.htm (EX-5.1) — 12KB
• d760314dex991.htm (EX-99.1) — 10KB
• g760314g59g64.jpg (GRAPHIC) — 3KB
• g760314image01.jpg (GRAPHIC) — 23KB
• g760314img0002.jpg (GRAPHIC) — 6KB
• 0001193125-24-199460.txt ( ) — 690KB
• wmb-20240808.xsd (EX-101.SCH) — 3KB
• wmb-20240808_lab.xml (EX-101.LAB) — 17KB
• wmb-20240808_pre.xml (EX-101.PRE) — 11KB
• d760314d8k_htm.xml (XML) — 3KB

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 1.1 Underwriting Agreement, dated August 8, 2024, by and among The Williams Companies, Inc. and BofA Securities, Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule 1 thereto. 4.1 Form of Tenth Supplemental Indenture, to be dated August 13, 2024, between The Williams Companies, Inc. and The Bank of New York Mellon Trust Company, N.A., as trustee. 4.2 Form of 4.800% Senior Notes due 2029 (included in Exhibit 4.1). 4.3 Form of 5.800% Senior Notes due 2054 (included in Exhibit 4.1). 5.1 Opinion of Gibson, Dunn & Crutcher LLP relating to the Offering. 23.1 Consent of Gibson, Dunn & Crutcher LLP (included in Exhibit 5.1). 99.1 Press Release dated August 8, 2024. 104 Cover Page Interactive Data File. The cover page XBRL tags are embedded within the inline XBRL document (contained in Exhibit 101).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE WILLIAMS COMPANIES, INC. Dated: August 13, 2024 By: /s/ Robert E. Riley, Jr. Robert E. Riley, Jr. Corporate Secretary