-11.8 C
Fort St. John
Tuesday, January 22, 2019
9924 101 ave Fort St. John, B.C.
Advertisement
Advertisement
Home Canadian Press AltaGas confirms being in talks about possible merger deal worth $5 to...

AltaGas confirms being in talks about possible merger deal worth $5 to $6 billion

Advertisement

CALGARY — AltaGas Ltd. has confirmed it’s in talks on a potential transaction after the Wall Street Journal reported that it was negotiating to combine with WGL Holdings Inc. in a deal worth US$5 billion to $6 billion.

Calgary-based AltaGas did not name the third party, adding in its statement that no agreement has been reached and there is no assurance that these discussions will continue or that any transaction will be agreed upon.

Washington, D.C.-based WGL Holdings is the parent company of natural-gas utility Washington Gas, which supplies the U.S. capital region.

- Advertisement -

The Wall Street Journal, citing anonymous sources, said a deal could be announced this month but that regulatory or political pushback could be obstacles to any agreement.

AltaGas closed down 43 cents, or 1.26 per cent, at $33.65 after being halted earlier in the trading day with a market value of $5.58 billion.

WGL Holdings closed up US$4.50 or 5.94 per cent on the day for a market value of US$4.15 billion.

get the latest news in your inbox

Author

Advertisement
Advertisement
Advertisement
Advertisement

Local Events

Advertisement
Advertisement
Advertisement

Must Read

TAIC presents Taylor Council with 2018 Facility Report

TAYLOR, B.C. - The Taylor Access & Inclusion Committee gave an update on the 2018 Facility Report to Taylor Council at a recent Council...