Corvex, Soroban Win Williams Board Seats

Feb 27 2014 | 11:36am 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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of