Brunswick Group is handling Energy Transfer Equity's rejected $53B takeover bid for Williams Companies of Tulsa, which uses the Joele Frank IR shop.

The target company said the offer combining a mix of equity and debt assumption "significantly undervalues" the operations of the $7.6B pipeline operator.

ETE noted the $64 per-share cash bid represents a 32.4 percent premium over the closing price of June 19.

The Dallas-headquartered company made "multiple attempts" during the past six months to "engage in a meaningful, friendly dialogue" with Williams' management. Those efforts were unsuccessful.

Kelcy Warren, CEO of the pipeline/refined products company, said the proposed merger would be a "transformative combination."

Brunswick's Steve Lippin and Mark Palmer work the merger deal for ETE with support from local firm Granado Communications.

JF's Dan Katcher, Andrew Siegel and Dan Moore represent Williams.