Corvex Capital and Soroban Increase Their Position in Williams Companies, Inc. (WMB)

Corvex Capital, managed by Keith Meister, and Eric W. Mandelblatt’s Soroban Capital have boosted their aggregate stake in Williams Companies, Inc. (NYSE:WMB) to 59.99 million shares from 51.21 million shares held earlier. Their activist stake currently amasses 8.78% of the company’s common stock.

Keith Meister

 

Of the total of 59.99 million shares, Corvex Capital owns 38.99 million shares, acquired for an aggregate price of $1.46 billion and Soroban owns 21.0 million shares,worth $727.19 million. Corvex Management additionally owns 8.09 million shares as cash-settled options, which, added to 59.99 million, raise the total stake to 68.08 million shares, representing 9.96% of the common stock.

Corvex Management and Soroban have retained Moelis & Company LLC to serve as their financial advisor, with respect to their investment in Williams Companies, Inc. (NYSE:WMB).

Williams Companies, Inc. (NYSE:WMB) is an energy infrastructure company that connects North America’s hydrocarbon resource plays to markets for natural gas liquids, natural gas and olefins.

A couple of months ago, Corvex Capital and Soroban, entered into an agreement, following which both funds raised their stake in Williams Companies, Inc. (NYSE:WMB) holding together the largest stake in the company. Both funds mutually decide on the various issues regarding the company, such as the nomination of directors to the company’s board, other corporate matters. They might also ask the company to nominate Keith Meister and Eric Mandelblatt to the company’s board.

Earlier this month, Robyn Ewing, Senior Vice President at Williams Companies, Inc. (NYSE:WMB) sold 147,354 shares of the company.

Corvex’s largest position as at the end of last year is in Fidelity National Financial Inc (NYSE:FNF) owning 18.29 million shares at the end of the fourth quarter, worth $593.37 million. Earlier, the fund sliced its stake in ADT Corp (NYSE:ADT) to 361,600 shares, through selling 10.24 million shares.

Disclosure: none

Recommended Reading:

Joel Greenblatt’s Top Five New Positions From Q4

Red Robin Gourmet Burgers, Inc. (RRGB) Earnings and CEO Interview

Billionaire Noam Gottesman Is Betting on These Stocks

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!