Real Assets

Tc Energy Makes $2B Offer To Take Over U.s. Pipeline Partnership

by calgary.ctvnews.ca posted 4months ago 69 views
Pipeline and power company TC Energy Corp. is moving to buy out the other unitholders in TC PipeLines, LP, a U.S. master limited partnership it operates, for about US$1.48 billion (C$1.97 billion) in shares. The Calgary-based company says it will offer 0.65 of a share in the parent company for each TC PipeLines unit, the equivalent of US$27.31 per unit based on the TC Energy's Friday closing price and reflecting a 7.5 per cent premium to the 20-day volume weighted average price of TC Pipelines.