TRP - TC Energy offers to buy rest of TC Pipelines for $27.31/unit

TC Energy (TRP) offers to acquire all TC Pipelines (TCP) units it does not already own in a deal that values the natural gas pipelines company at $1.48B.Under the deal terms, TC Pipelines unitholders would receive 0.650 common shares of TC Energy for each issued and outstanding publicly-held TCP common unit, which would value TCP shares at $27.31 each, a 5.4% premium based on Friday's closing price.TCP shares have dropped 38.8% YTD while TC Energy has slipped 21.2%.

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TC Energy offers to buy rest of TC Pipelines for $27.31/unit