TC Energy to acquire TC PipeLines in $1.68 B deal
12/15/2020
TC Energy Corp said on Tuesday it would acquire all outstanding shares of TC PipeLines LP in a deal that values the natural gas pipelines operator at about $1.68 billion.
TC PipeLines' common shareholders would receive 0.70 common shares of TC Energy, which represents a 19.5% premium to TC PipeLines' closing price as of Oct. 2, before the initial offer was made.
The deal is expected to close late in the first quarter or early in the second quarter of 2021. TC PipeLines will be wholly-owned by TC Energy and cease to be a publicly-held master limited partnership, once the deal closes.
Keystone pipeline operator TC Energy already owns a 23.96% stake in TC PipeLines, according to Refinitiv data.
Sign up to Receive Our Newsletter
- McDermott awarded Rovuma LNG Phase 1 FEED contract in Mozambique
- Wood leads industry project to accelerate CCUS with guidelines for CO2 specifications
- ExxonMobil selects Chart Industries’ IPSMR® liquefaction technology for Mozambique LNG project
- Gasum selects Wärtsilä for another bio-LNG project in Sweden
- Vaisala seeks to remove greenwashing from carbon capture with new measurement solution
Comments