Help Desk -
9958816305, 9810335381
Email
Password

AltaGas Canada to Be Acquired by PSP Investments & ATRF

Gasoil News - Published on Fri, 25 Oct 2019

Image Source: the globe and mail
AltaGas Canada Inc, the Public Sector Pension Investment Board and the Alberta Teachers' Retirement Fund Board announced that PSP Investments and ATRF and ACI have concluded a definitive arrangement agreement whereby the Consortium will indirectly acquire all of the issued and outstanding common shares of ACI in an all-cash transaction for $33.50 per Common Share.

Highlights:

The cash consideration of $33.50 per Common Share represents a premium of approximately 31% to the closing price of the Common Share on the TSX on October 18, 2019, or a premium of approximately 33% to the 20-day volume weighted average price

The Arrangement implies an enterprise value for ACI of approximately $1.7 billion

All-cash consideration provides immediate liquidity and certainty of value for holders of Common Shares upon closing

The Consortium intends to govern and finance ACI in a manner consistent with historical practice

The Consortium will support ACI as it continues to foster strong stakeholder relations and provide safe, reliable and affordable service to its customers

ACI will continue to declare quarterly dividends until close of the Arrangement, subject to approval by the Board of Directors of ACI

Source :

Posted By : Ratan Singh on Fri, 25 Oct 2019
Related News from Gasoil segment