Energy Transfer Equity LP is seeking the right to kill its deal to buy Williams Cos. and to collect a $1.48 billion breakup fee from the energy pipeline operator, accusing it of breaching the terms of their merger, Bloomberg reported.



Williams broke the pact between the two pipeline giants by, among other things, refusing to cooperate with Energy Transfer’s efforts to finance the deal and failing to make “reasonable best efforts” to complete it, Dallas-based Energy Transfer said Thursday in a statement.



The company is asking the Delaware Court of Chancery to rule that it can “immediately terminate” the agreement due to the alleged breaches and said it would be entitled to the breakup fee if it did.



Click  here  to read more.