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Stock Market & Financial Investment News

News Breaks
January 9, 2013
07:05 EDTPGN, TRPTransCanada selected to develop $6B in natural gas infrastructure
TransCanada (TRP) has been selected by Progress Energy Canada (PGN) being the successor by amalgamation of PETRONAS Carigali Canada Ltd. and Progress Energy Resources Corp. to design, build, own and operate the proposed $5B Prince Rupert Gas Transmission project. This proposed pipeline will transport natural gas primarily from the North Montney gas-producing region near Fort St. John, British Columbia to the recently-announced Pacific Northwest LNG export facility in Port Edward near Prince Rupert, B.C. Progress and TransCanada expect to finalize definitive agreements in early 2013, subject to approvals by their respective Boards. TransCanada will immediately commence Aboriginal and stakeholder consultation and preparation of the relevant regulatory filings for this project under B.C. jurisdiction. In addition, TransCanada proposes to extend its existing NOVA Gas Transmission system in northeast B.C. to connect both to the Prince Rupert Gas Transmission project and to additional North Montney gas supply from Progress and other parties. Initial capital cost estimates associated with extensions of the NGTL System are approximately $1B-$1.5B, with an in-service date targeted for the end of 2015.
News For TRP;PGN From The Last 14 Days
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February 25, 2015
09:27 EDTTRPTC PipeLines to hold a conference call
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08:13 EDTTRPTransCanada agrees to sell remaining 30% interest in GTN to TC PipeLines
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08:07 EDTTRPTC PipeLines to purchase remaining 30% of GTN from TransCanada for $446M
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February 24, 2015
15:29 EDTTRPPresident vetoes attempt to force TransCanada Keystone approval, Bloomberg says
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February 19, 2015
16:21 EDTPGNParagon Offshore reports Q4 adjusted EPS 90c, consensus 78c
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February 17, 2015
05:33 EDTPGNParagon Offshore exercises squeeze-out rights after MTO
Paragon Offshore announces its decision to exercise its squeeze-out rights following the mandatory public tender offer, or MTO, to all remaining shareholders in Prospector Offshore Drilling S.A., a société anonyme incorporated under the laws of Luxembourg and registered with the Luxembourg register of commerce and companies under number B 153.772, having its registered office at 6, rue Eugène Ruppert, L-2453 Luxembourg with a subscribed share capital of $945,967.08. The MTO was launched by Paragon on December 15, 2014 and closed on January 12, 2015. Paragon hereby gives notice of the exercise of its squeeze-out rights in accordance with article 15 of the Luxembourg Law of 19 May 2006 on takeover bids. As a result, Paragon will acquire all the 362,279 shares in Prospector not tendered in connection with the MTO or which are not otherwise held or controlled by Paragon at a price in cash of NOK 14.50 per Remaining Prospector Share. The Squeeze-Out will be effective prior to trading on Oslo Axess on February 23. The Squeeze-Out Price corresponds to the price offered in the MTO. Pursuant to article 15(5), third paragraph, of the Takeover Law, this price is therefore deemed to be the fair price for the Remaining Prospector Shares.

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