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

That 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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