- WGL Holdings (WGL +7.4%) spikes after Dow Jones reports that Canada's AltaGas (OTCPK:ATGFF +0.9%) is in merger talks with the U.S.-based gas utility in a $5B-$6B deal.
- WGL's market value has jumped to $4.3B amid the prospect of a sale, and would be a big bite for AltaGas, which was valued at C$5.6B (US$4.3B) and has a C$3.8B debt load.
- WGL operates Washington Gas, which has more than 1M customers in the D.C. area, while AltaGas’ utilities serve 560K Canadian customers.