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

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

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!