Welcome to our dedicated page for Tc Energy Corporation news (Ticker: TRP), a resource for investors and traders seeking the latest updates and insights on Tc Energy Corporation stock.
TC Energy Corporation (TRP) operates critical energy infrastructure across North America, including natural gas pipelines, oil transportation networks, and power generation facilities. This page aggregates official company announcements, regulatory updates, and strategic developments for investors and industry observers.
Access timely updates on earnings reports, infrastructure projects, and operational milestones directly from the source. Our curated collection ensures you stay informed about pipeline safety initiatives, regulatory compliance actions, and market expansion efforts without promotional bias.
Content includes press releases covering capital investments, environmental stewardship programs, and partnership announcements. Bookmark this page for continuous access to TRP's latest financial disclosures, maintenance updates, and energy transition strategies shaping North America's energy landscape.
TC Energy Corporation (TSX, NYSE: TRP) has successfully completed its merger with TC PipeLines, LP (TCP), transforming TCP into a wholly-owned subsidiary of TC Energy. The merger, approved by a majority of unitholders, aims to simplify corporate structure and enhance TC Energy’s stake in critical energy infrastructure. TCP unitholders will receive 0.70 common shares of TC Energy for each unit held. As a result, TCP common units will no longer trade on the NYSE. TC Energy’s shares continue to be listed on both the NYSE and TSX.
TC Pipelines, LP (NYSE:TCP) will be removed from the Tortoise MLP Index and Tortoise North American Pipeline Index following its merger with a subsidiary of TC Energy Corporation (NYSE:TRP). This change takes effect at the market open on March 3, 2021. TCP's removal from the Tortoise MLP Index is due to a special rebalancing triggered by the merger, while its removal from the Tortoise North American Pipeline Index does not require special rebalancing due to its current weight being below the threshold. The indices are managed by TortoiseEcofin, focusing on essential energy infrastructure.
TC Energy Corporation (NYSE: TRP) announced its subsidiary, TransCanada Trust, is considering offering subordinated trust notes under its short form shelf prospectus. If successful, proceeds will redeem outstanding Cumulative Redeemable Preferred Shares, Series 13, and reduce short-term debt. However, there's no guarantee of a successful offering or its terms. The Trust Notes are not registered under U.S. law and may not be sold within the U.S. This information contains forward-looking statements and is subject to various risks and uncertainties.
On February 26, 2021, TC Energy Corporation (TRP) announced that TCP unitholders overwhelmingly approved the merger with a wholly owned subsidiary of TC Energy. Approximately 70% of the units represented voted in favor, equating to 54.5% of total outstanding common units. Under the merger agreement, unitholders will receive 0.70 common shares of TC Energy for each TCP unit. The merger is set to complete on March 3, 2021, leading to the suspension of TCP units from NYSE trading.
On February 23, 2021, Energy Income Partners (EIP), the largest non-affiliated unitholder of TC PipeLines (TCP), expressed strong objections to the proposed merger with TC Energy (TRP). EIP, owning over 10% of TCP, announced its intent to vote against the merger, citing serious concerns about the fairness of the merger terms and potential undervaluation of TCP's assets. EIP's analysis questions the adequacy of the Conflicts Committee's decision and urges the postponement of the merger vote for further review, emphasizing that TRP's offer significantly undervalues TCP's growth prospects.
TC Energy Corporation (NYSE: TRP) has reaffirmed its exchange ratio of 0.70 common shares for each unit of TC PipeLines, LP (NYSE: TCP) amid unitholder concerns regarding its adequacy. This ratio reflects a 20.8% premium over TCP's closing price before the initial offer in October 2020. The exchange rate was unanimously approved by an independent committee. The special meeting for unitholder approval is scheduled for February 26, 2021. TC Energy's leadership emphasizes that the merger will maximize value for TCP unitholders and will not alter the terms of the agreement.
Energy Income Partners (EIP) has informed TC PipeLines, LP's Board of Directors of its opposition to the proposed merger with TC Energy Corporation. EIP, the largest non-affiliated unitholder of TCP with over 10% ownership, argues that the merger consideration of 0.70 common shares of TRP per unit of TCP significantly undervalues TCP's assets and growth opportunities. EIP has maintained its position in TCP for nearly 15 years, highlighting concerns over the adequacy of the offer.
On February 19, 2021, Cushing Asset Management and Swank Capital announced a change in constituents for the Cushing MLP Market Cap Index. TC PipeLines, LP (NYSE: TCP) is set to merge with TC Energy Corporation (NYSE: TRP), leading to TCP ceasing public trades. A special unitholder meeting is scheduled for February 26, 2021, to vote on the merger. If approved, Black Stone Minerals, L.P. (NYSE: BSM) will replace TCP in the Index starting March 1, 2021. This change will not affect other constituents.
Cushing Asset Management and Swank Capital have announced an interim change to The Cushing 30 MLP Index. Following a merger agreement between TC PipeLines (TCP) and TC Energy Corporation (TRP), TCP common units will cease public trading, pending unitholder approval on February 26, 2021. Effective March 1, 2021, EnLink Midstream (ENLC) will replace TCP in the Index at TCP's current weight. The Index tracks 30 midstream energy infrastructure companies and is calculated by S&P Dow Jones Indices.
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