Status:  Clearance

Acquirer:  AltaGas Ltd. (Canada)

Acquired:  WGL Holdings, Inc.  (US)

Value:  US$6.4 billion

Industry:  Energy; Regulated Utilities

UPDATE:  According to WGL Holdings, Inc.’s, annual report, the CFIUS clearance was received on August 18, 2017.   (See WGL Holdings, Inc., Form 10-K, Nov. 22, 2017, SEC Filing.)

Posted September 29, 2017

Status: Clearance

In a report presented during an investor call on September 27, 2017, AltaGas Ltd. stated that they received clearance from the Committee on Foreign Investment in the United States (CFIUS) on July 28, 2017 in relation to its proposed acquisition of WGL Holdings, a Washington, DC based energy distribution utility company.  (See AltaGas Ltd. Investor Presentation, September 2017.)  Closing is expected in the first half of 2018.  (Id.)

Posted on May 3, 2017

Status: New Filing

AltaGas Ltd., a Canadian corporation and diversified energy infrastructure company, reported that it has submitted various regulatory filings, including a joint notification to CFIUS, on April 24, 2017, in relation to its proposed acquisition of WGL Holdings, a Washington DC based energy distribution utility company. (See AltaGas Ltd., Press Release, AltaGas Ltd. Reports Record 2017 First Quarter Results, April 26, 2017.)

Posted on April 27, 2017

Status: Review

AltaGas Ltd., a diverse energy infrastructure company based in Canada, issued a press release on April 26, 2017 noting that the regulatory filings, including a notification to CFIUS, required under its January 25, 2017, Merger Agreement to indirectly acquire WGL Holdings, Inc., a U.S. energy distribution utility, were filed on April 24, 2017.  (See Press Release, AltaGas Ltd. Reports Record 2017 First Quarter Results, Apr. 26, 2017.)

Posted on February 4, 2017

Status: Upcoming/New Filing

WGL Holdings, Inc., a Washington, D.C. based regulated utility provider of natural gas, electricity, green power and energy services, announced that it is to be acquired in US$6.4 Billion Transaction by AltaGas Ltd., a Canadian corporation and “leading North American diversified energy infrastructure company with a focus on natural gas, power and regulated utilities.”  (WGL Holdings Press Release,  WGL Holdings, Inc. to be Acquired by AltaGas Ltd. in $6.4 Billion Transaction, Jan. 25, 2017.)  According to the Agreement and Plan of Merger, approval by the Committee on Foreign Investment in the United States (CFIUS) of the transaction is a condition to closing and the parties are to submit a notice to CFIUS “as promptly as reasonably practicable.” (Agreement and Plan of Merger, Sections 5.4, 8.1, in WGL Holdings Form 8-K, Ex-2.1, Jan. 26, 2017, SEC Filing).