bsop devry uni 330 paper - It was two years ago when Energy...

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It was two years ago when Energy Transfer’s Mr. Warren set his plan to acquire Williams in motion. At the time, he was benefiting from America’s shale revolution. As a middleman who moves what others drill out of the ground, Mr. Warren had, in short order, morphed his small pipeline company into an interstate giant through a series of bold developments and acquisitions. He appeared on the Forbes 400 billionaires list, worth about $7 billion at his peak. His target, Williams, also had a colorful history. Started in Arkansas as a construction company in 1908, the company moved to Tulsa and began building pipelines to transport oil and gas. Its own risk-taking urges were tempered by a disastrous debt-laden foray into telecommunications in the 1990s. The hedge funds had taken a stake in Williams worth a combined $2.5 billion, making them among its largest shareholders, and they were agitating for change, pointing to the company’s lackluster stock price. After the hedge
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