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AltaGas and WGL Holdings, Inc. Announce Approval of Merger by the Maryland Public Service Commission
AltaGas and WGL Holdings, Inc. Announce Approval of Merger by the Maryland Public Service ...
About this update from Altagas Ltd.
[{"type":"text","content":"\n\n\n\nAltaGas and WGL Holdings, Inc. Announce Approval of Merger by the Maryland Public Service Commission\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, April 4, 2018\n\n\n\nCALGARY, April 4, 2018 /CNW/ - AltaGas Ltd. (AltaGas) (TSX:ALA) and WGL Holdings, Inc. (WGL) (NYSE:WGL) are pleased to announce the achievement of positive regulatory approval from the Maryland Public Service Commission (Maryland PSC) to the proposed merger of AltaGas and WGL (the WGL Acquisition).  The 4:1 favourable decision by the Maryland PSC followed a comprehensive public process and contains a number of conditions. The companies will expeditiously review these conditions, which generally appear to be acceptable and consistent with the full suite of merger commitments offered up by the companies during the public process.\n\n\"We are pleased that the Maryland Public Service Commission has approved our acquisition of WGL,\" said David Harris, President and Chief Executive Officer of AltaGas. \"This marks another major milestone in bringing together AltaGas and WGL to deliver long-term value to customers and shareholders alike as we build a stronger future together.\"\n\n\"We are confident that our combination with AltaGas will benefit residents, businesses and the economy of Maryland. We appreciate the Commission's careful consideration of the many positive benefits this merger brings to the state as they evaluated our application,\" said Terry D. McCallister, Chairman and CEO of WGL Holdings, Inc., the parent company of Washington Gas. \"Washington Gas will be an even stronger company as part of the AltaGas family and the new resources available as part of this combination will provide benefits for the state for years to come.\" \n\nThe combination of AltaGas and WGL will bring together high quality, low-risk, long-lived infrastructure assets with a premier North American footprint. The combined entity will have over $20 billion in energy infrastructure assets and an enterprise value over $17 billion.  This provides a strong platform for growth wit...