TransCanada says current structure critical to its strategy
TORONTO (Reuters) - TransCanada Corp said on Friday that it believed it needs its current corporate structure, asset base and financial strength for its capital program.
The statement followed a Reuters report on Thursday that several U.S. hedge funds were reviewing the pipeline operator as a break-up candidate.
Calgary-based TransCanada did not comment on the report or provide any details on any discussions it might have had with activists, but it acknowledged there was significant trading activity in its common shares.
TransCanada shares jumped as much as 6.3 percent on the Toronto Stock Exchange on Thursday following the Reuters report before ending the day up 3.3 percent at C$60.81.
(Reporting by Euan Rocha; Editing by Lisa Von Ahn)
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