‘Not too enthused’: AltaGas’s transformational WGL acquisition still facing skepticism, more than a year later [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
'Not too enthused': AltaGas's transformational WGL acquisition still facing skepticism, more than a year later The deal has run into some stiff headwinds from investors and analysts, with some even questioning the merits of the transaction The $8.4 billion purchase by Calgary-based AltaGas Ltd. of Washington based WGL Holdings, when announced in January 2017, was billed as a transformational acquisition, a move that would enhance the buyer’s position “as a leading, North American diversified energy infrastructure company with strong growth opportunities in midstream, power and utilities.” Maybe that will unfold in the future but the deal, which is still working its way through the regulatory process, has run into some stiff headwinds from investors and analysts, with some even questioning the merits of the transaction. First there is the hit taken by investors, who ponied up $2.6 billion to purchase installment receipts, priced at $31 apiece, that will convert to common shares when th
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