WESTPORT, Conn., Feb. 19, 2021 /PRNewswire/ -- Today, Energy
Income Partners ("EIP") advised the Board of Directors of the
general partner of TC PipeLines, LP (NYSE: TCP) of its
objections to and its intent to vote AGAINST the proposal to
approve and adopt the Merger Agreement with TC Energy Corporation
(NYSE: TRP). A copy of EIP's letter notifying the Board of
its intent and detailing its objections are available on EIP's
website, www.eipinvestments.com.
EIP is the largest non–affiliated unitholder of TCP, owning more
than 10% of the units outstanding and has maintained a position in
the company for nearly 15 years. EIP believes TRP's offer of 0.70
common shares of TRP for each unit of TCP is inadequate because the
consideration currently offered significantly undervalues TCP's
assets and existing organic growth opportunities.
About EIP:
Based in Westport, Connecticut,
EIP is an asset manager founded in 2003 that focuses specifically
on energy infrastructure. EIP's seven member investment team
collectively has significant experience in the energy, pipeline,
and utility industries. As of January
31, 2021, EIP has $3.9 billion
of assets under management.
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SOURCE Energy Income Partners
