AltaGas Buying Washington Utility Owner in $4.6 Billion Deal

AltaGas Ltd. agreed to buy Washington utility owner WGL Holdings Inc. for $4.6 billion, a takeover that will expand the Canadian company’s reach in the U.S. where it already owns power plants and two natural gas distributors. The $88.25-a-share, all-cash deal represents a 12 percent premium over WGL’s closing price Tuesday, AltaGas said in a statement Wednesday.