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. Last Updated: 07/27/2016

NiSource Raises Bid

NEW YORK -- Utility holding company NiSource Inc. raised its four-month-old hostile bid for natural gas firm Columbia Energy Group on Sunday by 7 percent to $6.1 billion.

The new all-cash bid values Herndon, Virginia-based Columbia at $74 a share, up from the original bid of $68 a share.

NiSource's original bid, launched in June and rejected by Columbia as inadequate, was set to expire last Friday. In raising the bid, NiSource extended the tender offer until Nov. 12.

Columbia said its board of directors would review the offer and make a recommendation to shareholders. It urged shareholders to take no action until it makes the recommendation.