Oklahoma-based Williams Companies Inc. announced on Sunday that it is looking forward for some planned option after it received an unsolicited takeover proposal for $64 per share or $48 billion.

Energy Transfer Equity LP in a statement confirming that it was the bidder said that the offer of shares in a new unit was valued at $64 a share, a 32 Percent premium to Williams’ last close.

Including debt and other liabilities, the offer is worth $53.1 billion, according to the statement.

If the deal gets finalized it would rank near the largest in the pipeline industry. The biggest so far is Kinder Morgan Inc.’s consolidation of its partnership assets last year that was valued at $48.9 billion when announced, according to data compiled by Bloomberg.

Now the entire Energy Transfer offer depends on Williams abandoning its own pending $14 billion purchase of the units it doesn’t already own in Williams Partners LP that feeds gas and crude from wells to larger pipeline systems.

Warren said, “A combination of Williams’ assets with Energy Transfer Equity will create substantial value that would not be realized otherwise. Williams’ management has inexplicably ignored Energy Transfer Equity’s efforts to engage in a discussion”.

It has been said that Williams hired Barclays Plc and Lazard Ltd. to assist in its review of strategic alternatives, including a potential merger, sale of the company or continued pursuit of the existing operating and growth plan.