Q: Hi, In case the WGL deal fails, holders of subscription receipts will receive full amount of $31 ( Not $31 less the dividend equivalents already received, as mentioned in your recent response). Could you please clarify. Thanks
Here is the January 25, 2017 press release:
" In the event such notice has not been delivered prior to September 4, 2018 or if the Acquisition is terminated prior to such time, or AltaGas advises the underwriters or discloses to the public that it does not intend to proceed with the Acquisition, then the Escrow Agent and AltaGas will return to each holder of Subscription Receipts an amount equal to the aggregate issue price of such holder's Subscription Receipts, plus any unpaid Dividend Equivalent Payments owing to such holders of Subscription Receipts (the "Termination Payment"). The Termination Payment will be made from the balance of the Escrowed Funds at the Termination Time, including from any remaining interest on the Escrowed Funds. If the balance of the Escrowed Funds, together with any such interest, is insufficient to cover the full amount of the Termination Payment, AltaGas will pay to the holders of Subscription Receipts any difference."
Here is the January 25, 2017 press release:
" In the event such notice has not been delivered prior to September 4, 2018 or if the Acquisition is terminated prior to such time, or AltaGas advises the underwriters or discloses to the public that it does not intend to proceed with the Acquisition, then the Escrow Agent and AltaGas will return to each holder of Subscription Receipts an amount equal to the aggregate issue price of such holder's Subscription Receipts, plus any unpaid Dividend Equivalent Payments owing to such holders of Subscription Receipts (the "Termination Payment"). The Termination Payment will be made from the balance of the Escrowed Funds at the Termination Time, including from any remaining interest on the Escrowed Funds. If the balance of the Escrowed Funds, together with any such interest, is insufficient to cover the full amount of the Termination Payment, AltaGas will pay to the holders of Subscription Receipts any difference."