Welcome
Corporate Law News

TransCanada’s $13 Billion Price for Columbia Pipeline Upheld

Aug. 12, 2019, 6:48 PM

TransCanada Corp.’s $13 billion buyout of Columbia Pipeline Group Inc. was fairly priced, a Delaware judge ruled Aug. 12, rejecting a challenge by a group of hedge funds to the 2016 deal.

The ruling is the latest in a series that have Delaware court watchers wondering if appraisal lawsuits, which ask the Chancery Court to second-guess a merger price, are still worth filing.

The suit accused Columbia’s directors of selling out investors by arranging a “fire sale” so they could benefit from “change in control” payments. It sought an order requiring the combined company to make up the difference...

To read the full article log in. To learn more about a subscription click here.