Rumor Comes True: TransCanada Buying Columbia Pipeline for C$13B

rumor-mill.jpgThat was pretty fast. One week ago MDN told you that the rumor mill was working overtime about a potential buyout of Columbia Pipeline Group, a major Marcellus/Utica midstream company, by TransCanada, of Keystone XL Pipeline fame (see TransCanada Makes Play to Buy Columbia Pipeline for $10B). The number bandied about was $10 billion to buy Columbia. Neither Columbia nor TransCanada would confirm the rumors. But yesterday, TransCanada announced they’ve reached a deal with Columbia, to buy them for $13 billion (Canadian dollars, which is ~$10 billion US). It gives TransCanada a set at the midstream table since increasingly natural gas is flowing from the U.S. to Canada–after years of it being primarily the other way around. One of the primary selling points, according to TransCanada, is Columbia’s Marcellus/Utica assets. Here’s the Columbia/TransCanada announcement…

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