TransCanada Corp. has announced it has withdrawn and will refile on 6 May its pre-merger notification for the planned acquisition of Columbia Pipeline Group Inc.
The notification was first filed on 4 April 2016 with the United States Federal Trade Commission (FTC) under the Hart-Scott-Rodino Anti-Trust Improvements Act (the HSR Act).
The refiling will set a new 30-day period for review by the FTC.
TransCanada is cooperating with the FTC review and remains confident that it will receive clearance to allow the merger transaction to close in the second half of 2016, subject to completion of other conditions to closing, including the approval of Columbia's stockholders scheduled for 22 June 2016 and authorisation of the transaction by the Committee of Foreign Investment of the United States.
In March, TransCanada announced an agreement to acquire Columbia for US$13 billion.
Edited from press release by Angharad Lock
Read the article online at: https://www.worldpipelines.com/contracts-and-tenders/05052016/bibby-tethra-upgraded-3206/