TransCanada Corp. has released a statement following the recent trading activity of its common shares, which it claims may be based on reports of the possible acquisition of a third party. TransCanada is the operator of a natural gas pipeline network, which is 67 000 km long and taps into almost all of the major gas supply basins in North America.
According to Reuters, the third party in question is the US natural gas pipeline operator, Columbia Pipeline Group Inc., which, as of Wednesday's close, had a market value of approximately US$8 billion, as well as well as a long-term debt of US$2.75 billion as of 31 December 2015. The company owns approximately 15 000 miles of natural gas pipelines, which it also operates, and that connect the Midwest, Mid-Atlantic and Northeast US to the US Gulf Coast.
TransCanada claims that, whilst it is currently holding discussions with a third party about the possibility of an acquisition, an agreement has not been reached. In addition to this, the company claims that there is no guarantee that these talks will continue or that a transaction will be agreed upon. The company added that it will not make any further comments on the possible acquisition, until it is appropriate to do so.
Edited from various sources by David Rowlands
Read the article online at: https://www.lngindustry.com/regasification/11032016/transcanada-in-talks-with-third-party-regarding-possible-acquisition-2108/