AltaGas in merger talks with Washington Gas's WGL Holdings
Petroleumworld.com 01 13 2017
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.
Story reporting by Vishaka George in Bengaluru; Editing by Sriraj Kalluvila from Reuters.
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