Corvex Capital Further Raises Stake in Williams Companies, Inc. (WMB)

Keith Meister’s Corvex Capital has increased the stake twice in Williams Companies, Inc. (NYSE:WMB) in the last couple of days. In its latest filing, the fund disclosed that it owns 51.21 million shares of Williams Companies, Inc. (NYSE:WMB), which represents 7.49% of the company’s common stock. This position was raised from some 48.81 million shares reported by the fund just a couple of days ago.

In mid-January, Corvex Capital reported that it owns 46.10 million shares of Williams Companies, Inc. (NYSE:WMB).

Corvex Capital and Eric W. Mandelblatt’s Soroban Capital Partners agreed in December 2013 to discuss and come to a mutual agreement regarding several issues such as nomination of directors to the company’s board, or entering into negotiation with Williams Companies, Inc. (NYSE:WMB), regarding its management, or other corporate matters, among other things.

Williams Companies, Inc. (NYSE:WMB) owns and operates midstream gathering and processing assets, and interstate natural gas pipelines. The company increased its first-quarter 2014 common stock dividend by 5.9% to $0.0225, payable March 31, 2014, to holders of record at the close of business on March 14, according to a statement.

Further, the company said it expects to increase the full-year dividend by 20% in each of 2014 and 2015 – to per-share amounts of $1.75 and $2.11, respectively.

As of September 30, 2013, Corvex owned about 11.16 million shares of The Adt Corp (NYSE:ADT), with a reported value of about $454.01 million. Also, the fund owns about $260.05 million stake in C B S Corp New (NYSE:CBS).

Soroban Capital Partners owns about 16.73 million shares of Williams Companies, Inc. (NYSE:WMB) as of September 30, 2013. Also, Jeffrey Tannenbaum’s Fir Tree owns 7.51 million shares of the company with a value of about $273.31 million by the end of the third quarter of 2013.

Williams Companies, Inc. (NYSE:WMB) announced in early January that it will report its year-end 2013 financial results after the market closes on February 19, 2014.

Disclosure: none

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