TransCanada to buy Columbia Pipeline Group in $13 bln deal

Thu Mar 17, 2016 4:40pm EDT
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March 17 (Reuters) - TransCanada Corp, the company behind the controversial Keystone XL oil pipeline project, said it had agreed to buy U.S. natural gas pipeline operator Columbia Pipeline Group Inc in a deal valued at $13 billion.

TransCanada will offer $25.50 per share in cash for each Columbia Pipeline share, a 8.5 percent premium to the stock's Thursday close. (Reporting by Swetha Gopinath in Bengaluru; Editing by Shounak Dasgupta)