TransCanada to buy Columbia Pipeline Group for $10.2 billion

March 17, 2016 8:56 PM

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TransCanada to buy Columbia Pipeline Group for $10.2 billion

TransCanada Corp (TRP.TO), the company behind the controversial Keystone XL oil pipeline project, said it had agreed to buy U.S. natural gas pipeline operator Columbia Pipeline Group Inc (CPGX.N) for $10.2 billion.

TransCanada will offer $25.50 per share in cash for each Columbia Pipeline share, an 8.5 percent premium to the stock's Thursday close.

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