Williams Cos Inc, the Tulsa, Oklahoma oil and gas distribution company that realised that its obsolete pipelines all over the western US would make fine conduits for fibre optic cable, and has built its WilTel unit into a major player, mainly by subcontracting its capacity, reports that it has received an unsolicited offer from one of its customers, LDDS Communications Inc, for the WilTel business. LDDS is prepared to pay $2,000m in cash, LDDS shares or both, less the elimination of WilTel debt. Williams says it will consider the offer, any others, and also look at keeping the business or spinning it off to shareholders.
