Energy Transfer Equity Offers $53 Billion In Stock For Williams

Energy Transfer Equity L.P. said early Monday that it was bidding $53.1 billion for natural-gas-pipeline company Williams Cos. , including the assumption of debt and other liabilities. ETE said it originally raised the idea of a merger in May. Just hours earlier on Sunday, Williams said it had rejected an unsolicited buyout offer worth $48 billion but didn't specificy what entity had made the bid. ETE said the all-stock deal would carry an implied price of $64 for each share of Williams, which ended Friday trade down 1.3% at $48.34.