December 3, 2007 / 11:04 PM / 11 years ago

UPDATE 1-Williams Partners says to offer 9.25 mln common units

(Adds details, share movement)

Dec 3 (Reuters) - Natural gas processor Williams Partners LP WPZ.N said it plans to offer 9.25 million common units representing limited partner interests.

Williams Partners plans to use the net proceeds from the offering to fund a portion of its $750 million acquisition of certain ownership interests in Wamsutter LLC from Williams Cos Inc (WMB.N).

Lehman Brothers Inc, Citigroup Global Markets Inc and Merrill Lynch & Co are the joint book-running managers for the offering, the company said in a statement.

The underwriters have been granted a 30-day option to buy up to an additional 1.39 million common units to cover allotments.

Shares of the company were up about 2 percent at $41.13 in late electronic trade, after closing at $40.30 on the New York Stock Exchange. (Reporting by Shamik Paul in Bangalore; Editing by Deepak Kannan)

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