Williams Co Vying for QEP's Gas Pipeline Unit

Williams Companies Inc is said to be one of the bidders for QEP Resources Inc's natural gas pipeline unit, Bloomberg reported, citing people familiar with the matter.

QEP is likely to select a buyer within weeks for Entrada Midstream Inc, which may fetch about $2.5 billion, Bloomberg quoted the sources as saying. (http://bloom.bg/1yLq84t)

Under pressure from Jana Partners LLC, QEP said in June it would spin off QEP Field Services Co and rename it to Entrada Midstream Inc after the activist hedge fund said the company did not have enough expertise to run the unit.

Jana, which held a 7.2 percent stake in QEP as of Sept. 5, said in a regulatory filing on Wednesday that it had dissolved its entire position in QEP.

The company is working with Deutsche Bank AG (DB) to find buyers, Bloomberg reported.

QEP's former parent, Questar Corp, is also in line to buy Entrada, Bloomberg quoted a spokesman for the natural gas utility as saying. (Reporting By Yashaswini Swamynathan in Bangalore; Editing by Alan Crosby)