Corvex, Soroban Win Williams Board Seats

Feb 27 2014 | 12:36pm ET

A pair of hedge funds has notched a quick victory over the Williams Cos.

Corvex Management and Soroban Capital Partners in December demanded that Williams add both firms’ founders to its board immediately. Last week, Williams acceded, announcing that Soroban’s Eric Mandelblatt would become a director shortly. Corvex founder Keith Meister or a “mutally agreeable” alternative will join the board in November.

Williams CEO Alan Armstrong thanked the hedge funds for “the confidence [they] have demonstrated in Williams via their substantial investments.” Corvex and Soroban own a combined 9% of Williams.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of