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DTE is spinning off its gas pipelines Will rates increase?
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DTE Energy announces Board of Directors for DT Midstream
DTE EnergyMay 7, 2021 GMT
Board comprised of highly qualified, diverse directors with experience and expertise to oversee the new independent midstream company
Director appointments will be effective upon completion of DT Midstream spin-off, which is expected in July 2021
DT Midstream files Form 10 registration statement with Securities and Exchange Commission
DETROIT, May 07, 2021 (GLOBE NEWSWIRE) DTE Energy (NYSE: DTE) today announced the composition of the Board of Directors for DT Midstream, the new independent, publicly traded company that is expected to be formed through the planned spin-off of DTE Energy’s non-utility natural gas pipeline, storage and gathering business. DTE Energy expects that the spin-off will be completed in July 2021.
Ohio GOP lawmakers back off ballot proposal to extend redistricting deadlines: Capitol Letter
Today 8:00 AM
Ohio Governor Mike DeWine stopped at the Cleveland Museum of Natural History on Wednesday, May 5, 2021, as he traveled around Ohio promoting tourism. (David Petkiewicz, cleveland.com)David Petkiewicz, cleveland.com
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Rotunda Rumblings
Not happening: Ohio Republican legislative leaders have abandoned a plan to ask voters to approve a constitutional amendment in August extending deadlines for Ohio’s new redistricting process. As Andrew Tobias reports, Senate President Matt Huffman, who floated the plan in light of delayed census data, had said he wouldn’t go forward without bipartisan support. Democratic leaders expressed concerns about a rushed process.
The Delaware Court of Chancery in
In re Columbia Pipeline Group, Inc. Merger Litigation denied a motion to dismiss claims for fiduciary duty breach in the sale of Columbia Pipeline Group, Inc. (“Columbia”). The Court found that the plaintiff stockholders’ allegations supported the inference that Columbia’s CEO and Chairman Robert Skaggs, Jr. and CFO Steven Smith breached their fiduciary duty of loyalty by favoring TransCanada Corporation in the sale of Columbia.
Background of the Transaction
The litigation arose from the sale of Columbia by its board of directors (the “Board”). Columbia, with its primary asset being a gas pipeline, sought to exploit a production boom. Skaggs and Smith planned to retire in 2016, and they enjoyed as part of their compensation packages lucrative change-in-control arrangements, which would provide greater benefits if the company was sold before their retirement. A decline in commodity prices pushed Columbia’s stock down, making it a t
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