Midstream & Transport Monitor - March 18, 2016
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Months after President Barack Obama blocked TransCanada Corp.’s cross-border Keystone XL pipeline, the Canadian company is back with a deal giving it enough pipe to circle the Earth twice. TransCanada said March 17 it entered an agreement to acquire U.S.-based Columbia Pipeline Group Inc. for US$13 billion, which includes about US$2.8 billion of debt. As part of the agreement, Columbia shareholders will receive US$25.50 per common share, an 11% premium to its closing price on March 16.