The last big takeover in the pipeline industry (only announced a couple of weeks ago) was Enbridge Energy buying Spectra energy. The acquisition created North America’s largest energy infrastructure company. This week, another of Canada’s pipeline giants is jumping into the fray with an offer to buy Columbia Pipeline Partners LP.
I hope you aren’t missing the boat here. Consolidation in pipeline shares is unlikely to stop with the Columbia acquisition.
The Wall Street Journal has the details on the takeover.
TransCanada Corp. said Monday it had offered $848 million to buy Columbia Pipeline Partners LP, the master limited partnership affiliate of its newly acquired Columbia Pipeline Group Inc. unit.
The Columbia Pipeline limited partnership has interests in three regulated U.S. natural-gas pipelines extending from New York to the Gulf of Mexico, plus natural-gas storage systems and a portfolio of gathering and processing assets.