Tidewater Midstream and Infrastructure Ltd T.TWM.DB.A

From Altagas

[templetooth2]

Today's Altagas 2024 outlook had a few comments worthy of repitition:

 - Higher annual Midstream capital reflects the strong outlook for the Midstream business and strong growth opportunities, including the Pipestone II project.

 - The Midstream segment is positioned to deliver strong year-over-year organic growth in 2024 and beyond. This growth is underpinned by the Pipestone acquisition, ...

 - Approximately 45 percent of 2024 normalized EBITDA 1 is expected to be generated by the Midstream segment. Strong year-over-year growth in normalized EBITDA 1 is driven by the Pipestone and Dimsdale asset acquisition, ....

As I understand it, when the Pipestone/Dimsdale transaction was announced, there was a long, long time allowance before close, to allow for due diligence re the Pipestone expansion, something that's been floated for years. Anyway, the language, grammar and tenses all seem to suggest that from Altagas' viewpoint, this deal is done. 

So show me the money!

[Ogopogo26]

Expectation for closing of transaction is still before end of the year, so hopefully getting close to an announcement. Dividend increase from ALA and current share price make it easier for TWM to hold this for a few months as 12.5 million shares take some time to sell with avg daily trading vol of about 600,000.

[Mephistopheles3]

Right on - thanks for the update guys.  If you're selling a block like this without hammering Alta's stock price, they would probably just put in large orders off exchange - most massive transactions like this would just happen at the institution level, I don't think they would just be selling random amounts through the TSX. Stock is still just floundering around which is fine