Williams shares drop after judge backs Energy Transfer in merger dispute

Shares of Williams Cos. dropped in the extended session Friday after a Delaware judge sided with Energy Transfer Equity LP on backing out of a proposed merger. Williams shares fell 6.8% to $19.86 on heavy volume after hours, while shares of Williams Partners LP slipped 3.2% to $32.96. Shares of Energy Transfer equity jumped 8.1% to $14.95. In a statement, Williams said it will "take appropriate actions to enforce its rights" under the merger agreement, and recommended that shareholders still vote in favor of the merger on Monday.

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