trending Market Intelligence /marketintelligence/en/news-insights/trending/6gmYenv9i2Pxsd1zq1-3eQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Pension fund consortium to acquire AltaGas Canada in C$1.7B deal

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Pension fund consortium to acquire AltaGas Canada in C$1.7B deal

A consortium of Canadian pension funds has agreed to acquire AltaGas Canada Inc. in a C$1.7 billion all-cash transaction.

Public Sector Pension Investment Board and the Alberta Teachers' Retirement Fund Board are paying cash consideration of C$33.50 per share, representing a premium of approximately 31% to AltaGas Canada's closing share price on the Toronto Stock Exchange on Oct. 18.

Prior to the transaction, the AltaGas Canada board formed an independent committee to review and consider various strategic and financial options available to the company. AltaGas Canada's board entered into the deal upon recommendation of the committee and determined it is in the best interests of the company, according to an Oct. 21 news release.

"This transaction and the premium it places on our common shares is an excellent outcome for our shareholders," said AltaGas Canada President and CEO Jared Green. "We will be a stronger company which will afford us new and exciting opportunities in addition to the fantastic growth plans we already have in place."

Completion of the deal needs the approval of about 66.67% of the common shares voted during a special meeting. It is also subject to the approval by the Court of Queen's Bench of Alberta, the Alberta Utilities Commission and the British Columbia Utilities Commission, as well as under the Competition Act of Canada.

The parties expect to close the deal in the first half of 2020.

The AltaGas Ltd. subsidiary hired TD Securities Inc. as its exclusive financial adviser and Stikeman Elliott LP as legal adviser. The consortium tapped National Bank Financial and Citi as co-lead financial advisers and Blake Cassels & Graydon LLP as legal adviser.