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TransCanada, best known in the U.S. for the now-shelved Keystone XL pipeline, is the largest independent power generator in Ontario.
The deal is expected to close Friday with Marathon making an analyst and investor presentation touting the deal on Thursday.
Kinder Morgan and its partner will pay a total of $242 million to widen their stakes in the Natural Gas Pipeline Company of America.
The ruling states that the project to update four pump stations and control systems along the 800-mile line, known as Strategic Reconfigurations, was “imprudently” managed.
The postponement is a surprising reversal from last week, when the Houston-based producers said it hoped to raise at least $237.5 million.
The combined pipeline will run from Colorado to the oil logistics hub in Cushing, Oklahoma more than 550 miles away.
TransCanada made the announcement Wednesday, a day before it was scheduled to appear before the Nebraska Public Service Commission for a planning conference.
The move Tuesday comes just a week after Marathon offered a separate $400 million cash sweetener to the deal that has faced some investor resistance and tumbling stock values for both Marathon’s acquiring entity, the MPLX pipeline spinoff, and MarkWest. Former MarkWest CEO John Fox has rallied opposition against the deal.
TransCanada is pursuing bite-sized projects as it seeks to win approval for large-scale pipelines held up by environmental opposition and regulatory scrutiny, including the Keystone XL project rejected this month by U.S. President Barack Obama.