TC Energy Says Shareholders Voted To Approve Spinoff Of Liquids Pipelines Business
Portfolio Pulse from Benzinga Newsdesk
TC Energy shareholders have approved the spinoff of the company's liquids pipelines business. Shareholders will receive one new common share of TC Energy and 0.2 of a common share in a new public company named South Bow Corporation for each common share of TC Energy held.
June 04, 2024 | 9:04 pm
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TC Energy shareholders have approved the spinoff of the company's liquids pipelines business. Shareholders will receive one new common share of TC Energy and 0.2 of a common share in a new public company named South Bow Corporation for each common share of TC Energy held.
The approval of the spinoff is likely to be seen positively by investors as it could unlock value by creating a new public company focused on the liquids pipelines business. This could lead to a short-term increase in TC Energy's stock price.
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