Centerra valueCenterra more or less put a value of $540-600 million on transcanada in the midterm. (Cash + future commitment for 50% ) This I believe is very fair at this time and environment. The biggest thing this will do for PG is it will prevent us from diluting our shares at very low prices to continue our agenda.
When we need more capital we should be at a much higher share price and maybe other forms of capital will be available to us that will be less destructive to the share price.
Centerra has shown how undervalued Premier truly is. Hopefully the street will wake-up.
This transaction will make an outright takeover of PG a bit harder but it is the equivalent to an 81 MG aspirin, not the poison pill some of us would be more comfortable with. G could take both partners out for $2-2.5 billion combined.
Overall this deal is excellent for both parties.