NiSource, Columbia Energy agree to merge

03/06/2000
After a 10-month pursuit, NiSource Inc. has agreed to acquire Columbia Energy Group in an $8.5 billion cash, stock, and debt deal that will create the largest US natural gas company east of the Rockies.Deal structureUnder the merger agreement the two companies announced last week, NiSource will give $70 cash plus a stock appreciation income-linked security (SAILS) coupon with a face value of $2.60 for each share of Columbia's common stock. Moody's Investor Service described the SAILS as "a hybrid instrument, mandatorily convertible into NiSource shares in 4 years."In lieu of that, Columbia shareholders have a limited option to swap up to 30% of the company's outstanding stock ...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected