TC Energy Erases $199 Million Loss in Columbia Pipeline Case (2)

TC Energy Corp. persuaded Delaware’s top court Tuesday to overturn $199 million in damages stemming from its $13 billion acquisition of Columbia Pipeline Group Inc.

The state supreme court reversed a pair of rulings blaming the former TransCanada Corp. for driving down the transaction price with threats to damage Columbia’s market value by publicly bailing on deal talks. The lawsuit led by a pair of pension funds said the Calgary-based energy giant crossed the line by exploiting inside information gleaned from secret talks with a Columbia executive.

Justice Gary F. Traynor, writing for the unanimous five-member tribunal, acknowledged TC ...