Williams Companies shareholders voted in favor of a merger with Energy Transfer Equity, opening the way for Williams to file its appeal.
Southern Union, the natural gas pipeline operator in the middle of a bidding war, said that it will engage in merger talks with Williams, just days after rival bidder Energy Transfer Equity moved to block the discussions.
Williams shareholders will vote on the merger soon, and on Monday the two companies will go to court to accuse each other of breaching the agreement.
Pipeline company Williams Cos. recently resumed discussions with Energy Transfer Equity L.P. to buy assets belonging to Energy Transfer's takeover target, Southern Union Co. according to a securities filing.
Williams Cos.' months-long pursuit of fellow pipeline operator Southern Union Co. ended with a failed bid for Southern's crumbs, according to a securities filing by successful bidder Energy Transfer Equity.