The Successful Investor Hotline – Friday, September 5, 2008

Article Excerpt

TERANET INCOME FUND $11.47, Toronto symbol TF.UN, is now the target of a hostile $11.00-a-unit takeover offer from the Ontario Municipal Employees Retirement System. As part of the deal that established Teranet as a public company in June, 2006, the Ontario government capped the amount a single investor can own at 25%. So, any takeover would require government approval. (Teranet has an exclusive license from the Ontario government to operate the province’s electronic land registry system until 2017.) Despite this hurdle, Teranet’s units are trading above the offer price. That suggests that investors feel a higher offer is likely. Teranet is now a hold. TRANSCANADA CORP. $38.30, Toronto symbol TRP, has paid an undisclosed sum for the assets of Bison Pipeline LLC. These assets include all regulatory, environmental and engineering work completed to date on the Bison Pipeline Project. This proposed 289-mile pipeline would transport natural gas from Wyoming to TransCanada’s Northern Border Pipeline system in North Dakota. The purchase also includes…