Williams Partners (WPZ) announced after the close Monday that it intends to commence an underwritten public offering of 10,000,000 common units. The company will concurrently sell 3,000,000 of its common units to Williams (WMB) in a private placement.
Williams Partners gapped open sharply lower Tuesday, but was range-bound throughout the session. The stock finished down by 1.69 at $48.86 on the highest volume of the year.
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