Williams Partners, Access Midstream Partners to merge

Williams Partners and Access Midstream Partners have agreed to merge, according to a press release outlining the deal. Expected to close in early 2015, the merged master limited partnership (MLP) will become known as Williams Partners LP, with headquarters in Tulsa, Okla., and major offices in Oklahoma City, Houston, Pittsburgh, Salt Lake City and Calgary, Alberta, Canada. The merged MLP will feature positions across three key components of the midstream sector, including natural gas pipelines, gathering and processing, and natural gas liquids and petrochemical services. The transaction is valued at about $50 billion, the press release notes.