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Canada's AltaGas in merger talks Washington Gas parent - WSJ

Published 2017-01-12, 04:08 p/m
© Reuters. Canada's AltaGas in merger talks Washington Gas parent - WSJ

Jan 12 (Reuters) - Canada's AltaGas ALA.TO is in talks to merge with WGL Holdings Inc WGL.N , the parent of natural-gas utility Washington Gas, in a deal worth $5 billion-$6 billion, the Wall Street Journal reported, citing people familiar with the matter.

WGL's shares rose 6.8 percent to $81 in late-afternoon trading on Thursday, while AltaGas's stock was down 1.3 pct at C$33.65.

A deal could be announced this month assuming that the talks do not fall apart, or see another bidder, the report said. (http://on.wsj.com/2jcr9kM)

Regulatory or political pushback could be a potential obstacle to any deal, one of the people familiar with the matter told the newspaper.

WGL was weighing options in November, including a sale after receiving takeover interest from Spain's Iberdrola SA IBE.MC . (http://reut.rs/2ilgi3H)

AltaGas and WGL were not immediately available for comment.

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