TC Energy To Appeal Court Rulings Related To 2016 Columbia Pipeline Acquisition; Court Awarded Columbia Stakeholders Damages Of $398.4M
Portfolio Pulse from Benzinga Newsdesk
TC Energy plans to appeal court rulings related to its 2016 Columbia Pipeline acquisition. The court awarded Columbia stakeholders $398.4 million in damages, with TC Energy responsible for $199.2 million plus $179.5 million in interest.
May 15, 2024 | 9:05 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
TC Energy is appealing a court ruling that requires it to pay $199.2 million in damages plus $179.5 million in interest related to its 2016 Columbia Pipeline acquisition.
The court ruling imposes significant financial liabilities on TC Energy, which could negatively impact its stock price in the short term. The company's decision to appeal indicates ongoing legal uncertainties.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100