M&A

Tallgrass Energy Partners LP affiliate Tallgrass Midstream LLC agreed Wednesday to purchase the Douglas natural gas gathering system in Wyoming’s Powder River Basin (PRB) from DCP Midstream in a deal valued at $128 million.

WGL Holdings Inc. shareholders have approved the company’s plan to merge operations with Calgary-based AltaGas Ltd. During a special shareholder meeting at WGL’s corporate offices Wednesday, a proposal to approve the transaction was approved by 96.22% of the shares voted, which represented 71.88% of all outstanding WGL shares of common stock entitled to vote, the company said. The boards of directors of WGL and AltaGas have already unanimously approved the transaction, which is expected to close in the second quarter of 2018. The C$8.4 billion (US$6.4 billion) purchase was announced by the utilities in January. Under terms of the friendly takeover, the utility for which WGL is named — Washington Gas Light Co. — would not change its brand and would retain all current staff including executives. It will keep regulated public energy services in Maryland, Virginia and the District of Columbia, the merger partners said.

Consumers Energy issued a request for proposals to acquire an existing natural gas-fired plant with up to 800 MW of generating capacity in Michigan’s Lower Peninsula, part of its plan to continue shift away from coal and nuclear power.

Calgary-based Enbridge Inc. said Wednesday it would take “the difficult but necessary step” to eliminate 1,000 jobs company-wide in order to reduce the duplicative positions that emerged after it acquired Houston-based Spectra Energy Corp.

Liquefied natural gas (LNG) export terminal developer NextDecade LLC of The Woodlands, TX, has struck a tentative deal to go public in a reverse merger transaction that values the company at $1 billion.

TransCanada Corp. is looking to sell interest in two northeast pipelines to TC PipeLines LP, its affiliated master limited partnership (MLP), the company announced Monday.

Calgary-based Enbridge Inc. has completed its acquisition of Houston-based Spectra Energy Corp. in a stock-for-stock deal.

Peoples Natural Gas has struck a deal to acquire Delta Natural Gas of Winchester, KY, which serves 36,000 customers in central and southeastern Kentucky.

The U.S. Federal Trade Commission (FTC) hascleared thecombination of Enbridge Inc. and Spectra Energy Corp. FTC voted to accept a proposed consent decree in which Enbridge and Spectra have agreed to enact firewalls governing the flow of certain information to Enbridge about the Discovery offshore Gulf of Mexico natural gas pipeline system, and to take other steps limiting Enbridge’s potential influence over actions related to Discovery. Spectra holds an ownership interest in Discovery through its indirect ownership interest in DCP Midstream LP, which holds a 40% ownership interest in Discovery. Enbridge, through an affiliate, also has offshore natural gas gathering operations in the Gulf of Mexico. With FTC clearance, the merger has only one more regulatory hurdle, which is clearance under the Canadian Competition Act. The companies continue to expect the transaction to close during the first quarter.