Having failed in its bid to win approval for the controversial cross-border Keystone XL pipeline, TransCanada Corp. turned to three high-powered firms to secure its $13 billion buy of an additional 15,000 miles of U.S. energy infrastructure.
TransCanada is poised to pick up those precious pipeline assets through its proposed $13 billion acquisition last week of Houston-based Columbia Pipeline Group Inc. The deal, which includes some $2.8 billion in debt, will see TransCanada take control of a target that operates a network of natural gas pipelines that runs from New York to the Gulf of Mexico, as noted by sibling publication Texas Lawyer.
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