May 17, 2018 / 10:52 AM / 7 months ago

BUZZ-Williams Cos: To buy rest of MLP William Partners in $10.5 bln deal

** Pipeline operator’s shares up 5.8 pct at $28.95 premarket

** Co to buy remaining 26 pct stake in Williams Partners LP, its master limited partnership, for $10.5 bln

** WMB will give 1.494 shares for each WPZ share, representing a 6.4 pct premium to its Wednesday closing price

** Co says deal will mitigate negative impact from recently amended tax rules that removed a tax allowance for MLPs, add cash available for dividends

** Canadian peer Enbridge Energy also announces move to bring units under one listing

** WMB stock has fallen about 3 pct since the Federal Energy Regulatory Commission overhauled MLP taxes on March 15 (Reporting by Yashaswini Swamynathan in Bengaluru)

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