January 12, 2017 / 9:11 PM / a year ago

REFILE-Canada's AltaGas in merger talks with Washington Gas parent - WSJ

(Corrects to add dropped word “with” in headline)

Jan 12 (Reuters) - Canada’s AltaGas is in talks to merge with WGL Holdings Inc, the parent of natural-gas utility Washington Gas, in a deal worth $5 billion-$6 billion, the Wall Street Journal reported, citing people familiar with the matter.

WGL’s shares rose 6.8 percent to $81 in late-afternoon trading on Thursday, while AltaGas’s stock was down 1.3 pct at C$33.65.

A deal could be announced this month assuming that the talks do not fall apart, or see another bidder, the report said. (on.wsj.com/2jcr9kM)

Regulatory or political pushback could be a potential obstacle to any deal, one of the people familiar with the matter told the newspaper.

WGL was weighing options in November, including a sale after receiving takeover interest from Spain's Iberdrola SA. (reut.rs/2ilgi3H)

AltaGas and WGL were not immediately available for comment. (Reporting by Vishaka George in Bengaluru; Editing by Sriraj Kalluvila)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below