RE: OvertakeMy strong feeling is that TRP will do just that and make some new aquisitions in the future - mainly in the power generation industry.
As stated, this was one of their new areas to focus on (along with gas transmission) and this is an industry that's growing in leaps and bounds. There will always be an ever-increasing need for electricity and with the recent deregulation of the Hyro monopolies in Alberta and Ontario, this presents TCPL with a great opportunity.
They have (or will have once the divesting of non core assets is completed) lots of cash on hand and already have a profitable and experienced power generation division (TransCanada Power L.P.).
I foresee some aquisitions as well as some new power projects being built in the years to come. Rumours of a takeover because of the recent price activity are totally unfounded.