Energy Transfer to buy rival pipeline company Williams Cos: Reuters

(Reuters) — Pipeline company Energy Transfer Equity LP (ETE.N) said it would buy Williams Cos Inc (WMB.N) in a cash-and-stock deal valued at about $37.7 billion, including debt.

Energy Transfer’s offer of $43.50 per share represents a premium of 4.6 percent to Williams’ close on Friday.

Williams stockholders electing to receive stock will get 1.8716 Energy Transfer shares for each Williams share held.