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  • TransCanada to Refile Pre-Merger Notification to Federal Trade Commission for Columbia Acquisition
    édité le 06/05/2016 - Plus de news de "TC Energy" - Voir la fiche entreprise de "TC Energy"

TransCanada to Refile Pre-Merger Notification to Federal Trade Commission for Columbia Acquisition
TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced it has withdrawn and will refile on May 6 its pre-merger notification for the planned acquisition of Columbia Pipeline Group. Inc. (NYSE:CPGX) (Columbia).

The notification was first filed on April 4, 2016 with the United States Federal Trade Commission (FTC) under the Hart-Scott-Rodino Anti-Trust Improvements Act (the HSR Act).

The refiling will set a new 30-day period for review by the FTC. "Pull and refile" is a common procedure used by applicants to provide additional time to the FTC to confirm information about a complex transaction.

TransCanada is cooperating with the FTC review and remains confident that it will receive clearance to allow the merger transaction to close in the second half of 2016, subject to completion of other conditions to closing, including the approval of Columbia's stockholders scheduled for June 22, 2016 and authorization of the transaction by the Committee of Foreign Investment of the United States.

In March, TransCanada announced an agreement to acquire Columbia for US$13 billion including approximately US$2.8 billion of assumed debt. The acquisition represents an opportunity for TransCanada to invest in an extensive growing network of regulated natural gas pipeline and storage assets in the prolific Marcellus and Utica shale gas regions.

About TransCanada

With more than 65 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 67,000 kilometres (42,000 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with 368 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 11,400 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest liquids delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP.

About Columbia

Columbia Pipeline Group, Inc.(NYSE:CPGX) operates approximately 15,000 miles of strategically located interstate pipeline, gathering and processing assets extending from New York to the Gulf of Mexico, including an extensive footprint in the Marcellus and Utica Shale production areas. Columbia Pipeline Group also operates one of the nation's largest underground natural gas storage systems. Columbia Pipeline Group is listed on the NYSE under the ticker symbol CPGX.

Origine : Communiqué TC Energy

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