Williams Wins $495 Million After $33 Billion Busted Merger (1)

Williams Cos. prevailed Tuesday in a seven-year legal fight over its failed $33 billion merger with Energy Transfer LP, fending off the rival pipeline operator’s challenge to its $495 million court victory.

The Delaware Supreme Court ruled in favor of Tulsa-based Williams, upholding a series of decisions by Vice Chancellor Sam Glasscock III, who found that Dallas-based Energy Transfer—controlled by billionaire Kelcy Warren—was to blame for walking away from the 11-figure transaction in 2016.

Justice N. Christopher Griffiths, writing in a 58-page opinion, fully upheld Glasscock’s rulings for Delaware Chancery Court, which awarded $410 million in damages and $85 ...