One-Page Deal Sheet
TC Energy Acquires TC Pipeline in Deal Worth $1.68B
TC Energy Corp. TC PipeLines, LP
Announced Date
December 15,2020
Close Date
March 03,2021
Transaction Type
Corporate
Location
Region
Canada
Country
Canada
Transaction Details: Subscribe to see
TC Energy Corporation has agreed to acquire all the outstanding common units of TC PipeLines LP in an all-stock deal worth $1.68 billion.
This deal closed on March 3, 2021.
TCP common unitholders would receive 0.70 common shares of TC Energy for each issued and outstanding publicly-held TCP common unit. This represents a 19.5 per cent premium to the TCP closing price before the original offer as of October 2, 2020.
Upon closing, TCP will be wholly-owned by TC Energy and will cease to be a publicly-held master limited partnership.
Russ Girling, TC Energy President and Chief Executive Officer…
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