Law360 (September 25, 2019, 9:43 PM EDT) -- The Delaware Chancery Court on Wednesday plugged up pipeline company Blue Racer Midstream LLC's planned $600 million to $750 million initial public offering, finding that the venture's private equity backers cannot get around contract terms that give The Williams Cos.
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In a 74-page ruling, Vice Chancellor J. Travis Laster said the restrictions were part of the interconnecting provisions and cooperating clauses of contracts governing Blue Racer, EnCap Flatrock Midstream Fund II L.P, Caiman Energy II LLC and its various investors, including Williams.
"To the extent that Williams has rights under the Caiman LLC agreement, such as a right to...
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