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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| TC Energy Corporation | TSX:TRP | Toronto | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.04 | -0.08% | 49.17 | 49.10 | 49.26 | 49.47 | 48.83 | 49.16 | 3,776,127 | 21:14:58 |
From Apr 2019 to Apr 2024
By Colin Kellaher
TC Energy Corp. on Tuesday said it agreed to buy the rest of TC PipeLines LP for about $1.68 billion in stock, after raising its offer for the pipeline company.
TC Energy said it will issue 0.7 share for each unit of TC PipeLines it doesn't already own, up from a prior offer of 0.65 share.
Based on Monday's closing price, the deal values TC PipeLines at $30.95 a unit, a 19.5% premium to the Oct. 2 closing price of $25.90, before TC Energy unveiled its original offer.
TC Energy, a Calgary, Alberta, company involved in the provision of energy-infrastructure services, said it will issue about 38 million shares in the deal. This will simplify its corporate structure and consolidate its ownership interest in eight FERC-regulated natural-gas pipelines, the company said.
The company said it expects to complete the transaction late in the first quarter or early in the second quarter of 2021.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 15, 2020 07:40 ET (12:40 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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