TransCanada Reportedly In Talks To Buy U.S. Pipeline Company For $10 Billion

TransCanada is reportedly in talks to acquire Columbia Pipeline Group, Inc., a U.S. company, for as much as $10 billion dollars, according to the Wall Street Journal. If a deal materializes, TransCanada would significantly expand its footprint in the natural gas business which has been its chief source of competition.

The paper cited unnamed sources as saying a deal could be announced within weeks. Columbia Pipeline's market value is approximately $8 billion. After the report was published Thursday, shares in TransCanada fell about 3% while Columbia shares rose by 15%.

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