AltaGas takeover of WGL Holdings approved by Maryland regulator [Seeking Alpha]
WGL HOLDINGS (WGL)
Last wgl holdings earnings: 5/3 06:59 pm
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Source: Seeking Alpha
AltaGas takeover of WGL Holdings approved by Maryland regulatorAltaGas' (OTCPK:ATGFF+2.9%) purchase of Washington Gas parent company WGL Holdings (WGL-0.2%) is a step closer to a reality following yesterday'sconditional approval by the Maryland Public Service Commission.The two companies have until April 16 to review the Maryland PSC’s approval conditions, which include $100M to expand natural gas infrastructure in the state and a requirement to develop new renewable energy resources.The merger still needs approval from the D.C. Public Service Commission, where a decision is expected in mid-2018; it has been approved by the Federal Energy Regulatory Commission, Federal Trade Commission and Virginia's State Corporation Commission.Investors are "not too enthused" with the deal, according to Raymond James analyst Chris Cox, who thinks AltaGas paid too much and used too much debt to acquire WGL.Click to subscribe to real-time analytics on ATGFFNow read:Altagas Hikes: Stock Dives - Why The
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