TransCanada has announced to acquire Columbia Pipeline Group for around $13 billion

By Muhammad Ali Khawar

TransCanada Corporation (USA) (NYSE:TRP) has announced to acquire Columbia Pipeline Group for $10.2 billion, amid low crude oil and natural gas prices and strict government regulations. The energy company will pay $25.50 to each shareholders of Columbia Pipeline and would also assume liabilities of $2.8 billion. The value of the deal represents a modest 10.9% premium on Columbia’s closing share price on Wednesday, March 16.

Goldman Sachs & Co., and Lazard Ltd. are the financial advisors for Columbia Pipeline Group Inc. (NYSE:CPGX), and Wells Fargo & Co. acted as the exclusive financial advisor for TransCanada. The legal advisors for Columbia Pipeline are Sullivan & Cromwell LLP and Bennett Jones LLP. Meanwhile, Osler, Hoskin & Harcourt LLP, Blake, Cassels & Graydon LLP, and Mayer Brown LLP acted as legal counsel to TransCanada.

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