TransCanada Urged by Investor Sandell to Expand MLP
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TransCanada Corp., developer of the stalled Keystone XL pipeline, should sell all U.S. assets to the master-limited partnership it controls and spin off its power-generation business to boost its share price, activist investor Sandell Asset Management said.
TransCanada must “fully employ its MLP immediately to catch up with its major North American infrastructure competitors,” Chief Executive Officer Thomas Sandell said in a letter to TransCanada’s board released today.