Tidewater Midstream to Acquire Tidewater Renewables in All-Share Transaction

12:03 PM EST, 11/02/2026 (MT Newswires) -- Tidewater Midstream and Infrastructure (TWM.TO) on Monday said it is acquiring all the shares of Tidewater Renewables (LCFS.TO) that it does not already own, in an all-share transaction. Midstream, which currently owns 65% of Renewables, will offer 0.88 share per Renewables share held. The consideration implies a value of CA$20.58 per Renewables share, a statement said. The transaction is expected to close on Dec. 18. The combined company will operate as Tidewater Midstream and Infrastructure and remain listed on the Toronto Stock Exchange under the symbol "TWM". Midstream Chief Executive Officer Jeremy Baines will lead the combined company. Tidewater Midstream shares were last seen up CA$0.29, to CA$23.68, on the Toronto Stock Exchange, while Renewables shares were up CA$1.38 at CA$21.29. Price: 23.56, Change: +0.16, Percent Change: +0.71