AltaGas Ltd. Acquires WGL Holdings, Inc.

On July 6, 2018, AltaGas Ltd. completed its acquisition of WGL Holdings, Inc. for approximately C$9 billion, including related financing consisting of a US$3 billion bridge facility, a C$2.6 billion bought deal public offering of subscription receipts and a concurrent C$400 million private placement of subscription receipts.

The combination of AltaGas and WGL supports AltaGas’ long-term vision and strategy, and results in a company with an enterprise value of over $17 billion, a presence in over 30 states and provinces, and approximately $6 billion in growth opportunities.

AltaGas Ltd. was represented in Canada by Keith Chatwin, Leland Corbett, Amanda Kousinioris, Brandon Leitch (Corporate/Banking/Securities), David Weekes and Julie D’Avignon (Tax) of Stikeman Elliott LLP; in the US by Jeffery Floyd, Keith Fullenweider, Benji Barron, Robert Hughes, Kathryn Hastings, David Bumgardner, Mariam Boxwala (Corporate), John Wander, Quentin Smith (Litigation), John Decker, Damien Lyster, Victoria Galvez, Andrew DeVore, (Energy Regulatory), David Wicklund, Stephen Tarry, Mike Bielby (Finance), John Lynch (Tax), Brian Bloom, Dario Mendoza, Austin Light (Benefits), Sean Becker (Employment), Kaam Sahely, Megan Menniti, Michael Zarcaro (Energy Transactions & Projects), Larry Nettles, Matthew Dobbins (Environmental), Jared Knight (Real Estate), and Billy Vigdor (Antitrust) of Vinson & Elkins LLP; and by Clifford Naeve and John Estes (Energy) of Skadden, Arps, Slate, Meagher & Flom LLP.

WGL Holdings, Inc. was represented by Andrew Calder (Corporate), Melissa Hutson, Suhan Shim (Finance), Scott Price, Kate Coverdale (Benefits), Matthew Antinossi, Tim Stephenson (Employment), Dean Shulman, Vincent Thorn (Tax), Christian Semonsen (Environmental), Lisa Samenfeld (IP), Jennifer Sheehan (Real Estate) of Kirkland & Ellis LLP; and by Mark Plotkin, David Fagan (Privacy & Data Protection), Damara Chambers and Sara Lacy (Regulatory) of Covington & Burling LLP.