Energy Transfer Owes Williams $75 Million More After Busted Deal

Energy Transfer LP must cover $75 million in legal fees for the Williams Cos. attorneys who won a $410 million breakup fee over the collapse of a $33 billion merger between the two pipeline giants, a Delaware judge said Thursday.

Vice Chancellor Sam Glasscock III ruled in favor of Williams a second time, about eight months after he found in December that Dallas-based Energy Transfer—owned by billionaire Kelcy Warren—was responsible for walking away from the 11-figure deal.

Glasscock, writing for Delaware’s Chancery Court, rejected Energy Transfer’s argument that the 15% contingency fee Williams agreed to pay its lawyers was incompatible ...