Williams shares soar on unit sale

(Reuters) - Williams, which wants to focus more on its natural gas businesses, said the sale will reduce its risk and lower its borrowing costs. Proceeds from the deal will be largely offset by income taxes, resolution of retained liabilities and transaction costs, Williams said.




Investors cheered the sale, sending Williams shares up more than 7 percent, or the largest one-day gain in nearly a year, in trading on the New York Stock Exchange.


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