TransCanada Does Not Endorse Mini-Tender Offer by TRC Capital
17 August 2018 - 9:40AM
News Release -- TransCanada Corporation (TSX, NYSE: TRP)
(TransCanada) has been notified of an unsolicited mini-tender offer
by TRC Capital Corporation (TRC Capital) to purchase up to
2,500,000 common shares of TransCanada, representing approximately
0.28 per cent of TransCanada's outstanding common shares at a price
of CDN $55.35 per common share. TransCanada does not endorse this
unsolicited mini-tender offer.
Shareholders are cautioned that the mini-tender offer has been
made at a 4.32 per cent discount to the closing price of
TransCanada's common shares on the Toronto Stock Exchange on August
14, 2018, the last trading day before the mini-tender offer was
announced.
Any person considering tendering to the offer should consult his
or her financial advisor.
TransCanada does not endorse TRC Capital's unsolicited
mini-tender offer and is not associated with TRC Capital, the
mini-tender offer, or the offer documentation. TRC Capital has made
similar unsolicited mini-tender offers for shares of other
companies.
According to TRC Capital's offer documents, TransCanada
shareholders who have already tendered their shares may withdraw
their shares at any time before 12:01 a.m. (EDT) on September 14,
2018, by following the procedures described in the offer
documents.
With more than 65 years' experience, TransCanada is a leader in
the responsible development and reliable operation of
North American energy infrastructure including natural gas and
liquids pipelines, power generation and gas storage facilities.
TransCanada operates one of the largest natural gas transmission
networks that extends more than 91,900 kilometres (57,100 miles),
tapping into virtually all major gas supply basins in North
America. TransCanada is a leading provider of gas storage and
related services with 653 billion cubic feet of storage capacity. A
large independent power producer, TransCanada currently owns or has
interests in approximately 6,100 megawatts of power generation in
Canada and the United States. TransCanada is also the developer and
operator of one of North America’s leading liquids pipeline systems
that extends approximately 4,900 kilometres (3,000 miles),
connecting growing continental oil supplies to key markets and
refineries. TransCanada’s common shares trade on the Toronto and
New York stock exchanges under the symbol TRP. Visit
TransCanada.com to learn more, or connect with us on
social media.
FORWARD-LOOKING INFORMATION
This publication contains certain information that is
forward-looking and is subject to important risks and uncertainties
(such statements are usually accompanied by words such as
"anticipate", "expect", "believe", "may", "will", "should",
"estimate", "intend" or other similar words). Forward-looking
statements in this document are intended to provide TransCanada
security holders and potential investors with information regarding
TransCanada and its subsidiaries, including management's assessment
of TransCanada's and its subsidiaries' future plans and financial
outlook. All forward-looking statements reflect TransCanada's
beliefs and assumptions based on information available at the time
the statements were made and as such are not guarantees of future
performance. Readers are cautioned not to place undue reliance on
this forward-looking information, which is given as of the date it
is expressed in this news release, and not to use future-oriented
information or financial outlooks for anything other than their
intended purpose. TransCanada undertakes no obligation to update or
revise any forward-looking information except as required by law.
For additional information on the assumptions made, and the risks
and uncertainties which could cause actual results to differ from
the anticipated results, refer to the Quarterly Report to
Shareholders dated August 2, 2018 and 2017 Annual Report filed
under TransCanada's profile on SEDAR at www.sedar.com and with the
U.S. Securities and Exchange Commission at www.sec.gov.
Media Inquiries:Grady Semmens403.920.7859 or
800.608.7859
TransCanada Investor & Analyst
Inquiries:David Moneta / Duane Alexander403.920.7911 or
800.361.6522
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