On May 16, the Committee on Foreign Investment in the United States (CFIUS) informed TransCanada Corp. and Columbia Pipeline Group Inc. that its investigation of TransCanada's proposed acquisition of Columbia is complete, and that there are no unresolved national security concerns.
CFIUS’ clearance satisfies one of the closing conditions.
Closing is also subject to the clearance by the U.S. Federal Trade Commission (FTC) under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act), and the approval of Columbia's stockholders, which is scheduled for June 22.
TransCanada pulled and refiled its HSR application on May 6, which set a new 30-day period for review by the FTC.
TransCanada and Columbia continue to anticipate completing the transaction in the second half of 2016.
TransCanada Corp. is based in Calgary, Alberta. Columbia Pipeline Group Inc. is based in Houston.
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