KORR Acquisitions Group Sends Letter to the Board of Directors of TC Pipelines, LP demanding a Fair Price

Rhea-AI Summary

KORR Acquisitions Group has sent a letter to the Board of Directors of TC Pipelines, LP (TCP) demanding a fair purchase price exceeding $40 per unit in relation to the proposed acquisition by TC Energy Corporation (TRP). KORR, a significant unit holder, is advocating for what it deems a more equitable valuation for shareholders. The full letter detailing KORR's position is publicly accessible. KORR focuses on investing in undervalued companies and seeks to enhance shareholder value.

Positive

• KORR's demand for a unit price over $40 could indicate potential shareholder value increase.
• KORR's active engagement suggests a focus on unlocking value for TCP investors.

Negative

• The letter implies dissatisfaction with the proposed acquisition price, potentially leading to a conflict with TC Energy.
• KORR's demands may complicate the acquisition process, causing delays in potential shareholder benefits.

HOUSTON, TX / ACCESSWIRE / November 16, 2020 / KORR Acquisitions Group:

KORR Acquisitions Group Delivers Letter to GoPro Board

KORR Acquisitions Group, Inc. (together with its affiliates, including KORR Value, LP, "KORR"), a unit holder with a substantial position in TC Pipelines, LP
(NYSE:TCP) ("TCP" or the "Company"), today announced that it has delivered a letter to both the Board of Directors and the Conflict Committee regarding the proposed purchase by TC Energy Corporation (TSX:TRP). KORR demands a fair price which KORR believes is well north of $40 per unit.

The full text of KORR's letter can be viewed at the following link:
https://korracquisitions.com/tc-pipelines-lp/

About KORR Value

KORR Acquisitions Group, Inc. is a New York based investment adviser that is focused on investing in undervalued publicly traded companies. KORR actively engages with managements to identify ways to unlock value for all shareholders and stakeholders.

Investor contact:

Kenny Orr, (855)-KORRVLU

SOURCE: KORR Acquisitions Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/616864/KORR-Acquisitions-Group-Sends-Letter-to-the-Board-of-Directors-of-TC-Pipelines-LP-demanding-a-Fair-Price

FAQ

What did KORR Acquisitions Group request from TC Pipelines, LP (TCP)?

KORR requested a fair purchase price exceeding $40 per unit regarding TC Energy Corporation's acquisition proposal.

Why is KORR Acquisitions Group concerned about the acquisition price for TCP?

KORR believes that the proposed acquisition price does not reflect the true value of TCP and aims to ensure better returns for its shareholders.

How might KORR's actions impact TC Pipelines, LP (TCP) investors?

KORR's demands could influence the acquisition negotiations and potentially lead to a higher price or extended timeline for the transaction.

Who is KORR Acquisitions Group?

KORR is a New York-based investment adviser focused on undervalued public companies and enhancing shareholder value.