March 29, 2016
TransCanada Corp. has agreed to acquire Columbia Pipeline. The Calgary-based pipeline company will pay $13 billion for the natural gas pipeline firm in Houston.
The transaction would give TransCanada a presence in the U.S. shale play, by providing a pipeline network to the Marcellus and Utica shales in Pennsylvania and surrounding states. TransCanada would also be better able to transport natural gas to liquefied natural gas terminals (LNG) on the Gulf Coast.
The deal is anticipated to close in the second half of this year, pending approval from Columbia shareholders.