TransCanada / Columbia Pipeline
TransCanada Corp. failed in its bid to receive approval for the Keystone XL pipeline , but its push into the United States continues: TransCanada said that it will acquire Houston-based Columbia Pipeline Group Inc. for $13 billion, including assumption of $2.8 billion in debt.
At the time of its announcement on March 17, the acquisition was the largest M&A deal in Canada this year. If completed, it would give the company an additional 15,000 miles of U.S. energy infrastructure, with natural gas pipelines running from New York to the Gulf of Mexico. TransCanada says the acquisition would make it one of North America’s largest regulated natural gas pipeline companies.
