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Fly News Breaks for June 23, 2015
WPZ, WMB, ETE
Jun 23, 2015 | 07:36 EDT
After Energy Transfer Equity (ETE) confirmed that it bid for Williams (WMB) and Williams rejected the bid, RBC Capital says the bid is positive for Energy Transfer. The firm says that Williams would increase Energy Transfer's scale, enhance its services, and increase its commercial growth opportunities. RBC estimates that the deal would be immediately accretive to Energy Transfer, and it believes that the deal would still be accretive to Energy Transfer's distribution if it raised its bid to as high as $72 per share. RBC keeps an Outperform rating on Energy Transfer.
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