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US energy firm rejects pipeline tycoon's US$48b takeover offer

Including debt and other liabilities, the bid from billionaire Kelcy Warren is worth US$53.1b

Mr Warren's US$48 billion offer for Williams Cos would be the biggest transaction ever for a man who has acknowledged his flagship company's reputation as "deal junkies".

New York

WILLIAMS Cos has rejected a US$48 billion stock-based takeover offer from pipeline magnate Kelcy Warren that aims to derail a consolidation of the North American natural gas and oil hauler.

Williams hired banks to explore alternatives to the offer, that it said undervalued...

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