CFIUS OKs TransCanada's $13B Columbia Pipeline Buy

Law360, New York (May 16, 2016, 4:24 PM EDT) -- North American energy infrastructure giant TransCanada's proposed $13 billion takeover of Texas-based pipeline operator Columbia Pipeline Group Inc. is on track to close later this year after a Committee on Foreign Investment in the United States investigation found no unresolved national security concerns, the companies said Monday.

The deal, which was announced in March, is subject to a vote by Columbia stockholders next month and still requires approval by the U.S. Federal Trade Commission. The companies filed a revised merger application with the antitrust authority on May 6, resetting a 30-day review period.

The deal does not require such approval from...

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