Status: Upcoming/New Filing
Acquirer: AltaGas Ltd. (Canada)
Acquired: WGL Holdings, Inc. (US)
Value: US$6.4 billion
Industry: Energy, Regulated Utilities
WGL Holdings, Inc, a Washington, D.C. based regulated utility provider of natural gas, electricity, green power and energy services, announced that it is to be acquired in US$6.4 Billion Transaction by AltaGas Ltd., a Canadian corporation and “leading North American diversified energy infrastructure company with a focus on natural gas, power and regulated utilities.” (WGL Holdings Press Release, WGL Holdings, Inc. to be Acquired by AltaGas Ltd. in $6.4 Billion Transaction, Jan. 25, 2017.) According to the Agreement and Plan of Merger, approval by the Committee on Foreign Investment in the United States (CFIUS) of the transaction is a condition to closing and the parties are to submit a notice to CFIUS “as promptly as reasonably practicable.” (Agreement and Plan of Merger, Sections 5.4, 8.1, in WGL Holdings Form 8-K, Ex-2.1, Jan. 26, 2017, SEC Filing).