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Untitled Document

Williams reaches agreement with Corvex and Soroban

Williams

Williams (NYSE: WMB), Corvex Management LP, and Soroban Capital Partners LLC have reached a mutual agreement under which Eric Mandelblatt, managing partner of Soroban, will be promptly appointed to the Williams board of directors, and Keith Meister, managing partner of Corvex, will be appointed to the Williams board of directors at the regularly scheduled November 2014 board meeting.

The Williams board will nominate Mandelblatt to stand for election at the 2014 Annual Meeting of Stockholders and will nominate both Mandelblatt and Meister, or, at Meister's option, a mutually agreeable industry expert, to stand for election at the 2015 Annual Meeting of Stockholders.

Corvex and Soroban have agreed to a customary standstill provision and certain individual and aggregate minimum share ownership requirements. In addition, Corvex and Soroban have agreed not to solicit proxies in connection with the 2014 Annual Meeting or any other annual meeting while their designees are on the Williams board, and to vote their shares in support of all of the board's director nominees at those meetings.

 

 

 

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