TC Energy Offers to Acquire TC PipeLines
October 05 2020 - 7:59AM
Dow Jones News
By Michael Dabaie
TC Energy Corp. said it made an offer to acquire all common
units of TC PipeLines LP.
Under the proposal, TC PipeLines common unitholders would
receive 0.650 common shares of TC Energy for each TC PipeLines
common unit, for an implied value of $27.31 per common unit.
The proposed exchange ratio values all TC PipeLines publicly
held common units at about $1.48 billion, or 35.2 million TC Energy
common shares.
TC PipeLines said that since its general partner is an indirect
subsidiary of TC Energy, its board will form a conflicts committee
to consider the offer.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
October 05, 2020 07:44 ET (11:44 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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