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UPDATE 1-TransCanada in talks to buy Columbia Pipeline Group - WSJ

Published 2016-03-10, 12:05 p/m
© Reuters. UPDATE 1-TransCanada in talks to buy Columbia Pipeline Group - WSJ
NG
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TRP
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(Adds details)
March 10 (Reuters) - TransCanada Corp TRP.TO , the company
behind the controversial Keystone XL oil pipeline project, is in
talks to buy U.S. natural gas pipeline operator Columbia
Pipeline Group Inc CPGX.N , the Wall Street Journal reported,
citing people familiar with the matter.
The deal could be announced in coming weeks and could be
valued at well over $10 billion, the Journal reported.
Columbia Pipeline Group had a market value of about $8
billion as of Wednesday's close and long-term debt of $2.75
billion as of Dec. 31.
"TransCanada remains focused on opportunities that would be
in line with our strategy and grow shareholder value," said
spokesman James Millar, while declining to comment directly on
the Wall Street Journal report.
Columbia Pipeline declined to comment.
Shares of Columbia Pipeline Group were up 15 percent at
$22.74 after being halted briefly.
TransCanada's shares were halted in Toronto for "news
pending". The stock was last down 1.9 percent at C$48.27.

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