AltaGas closes its cash acquisition of WGL Holdings.
Canadian utility AltaGas has closed its $6.4 billion acquisition of WGL, including debt, at the initial $88.25 per share cash offer, in line with our fair value estimate. The companies announced they had accepted the terms that Washington, D.C., regulators put forth in their order accepting the companies' settlement agreement last week.The merger approval process took more than a year and a half since AltaGas made its offer in January 2017. We give management credit for securing merger approva...
WGL Holdings is a holding company. Through its wholly owned subsidiaries, the company sells and delivers natural gas and provide energy-related products and services to customers. The company's segments include regulated utility, which is a regulated public utility that sells and delivers natural gas to retail customers; retail energy-marketing, which sells wind and other renewable energy credits and carbon offsets to retail customers; commercial energy systems, which focuses on energy efficient solutions for its customers; and midstream energy services, which focuses in the investment, management, development and optimization of natural gas storage and transportation midstream infrastructure projects.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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