It's official—Trudeau government now owns Trans Mountain pipeline after Kinder Morgan shareholders approve sale

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      Some might think that Finance Minister Bill Morneau and Prime Minister Justin Trudeau have bought a pig in a poke.

      But shareholders in Kinder Morgan Canada Limited have $4.5 billion in their pockets after approving the Canadian government's offer to buy is Trans Mountain pipeline system.

      Today, the Calgary-based subsidiary of the Texas energy giant, Kinder Morgan, announced that the deal has been approved.

      Kinder Morgan owns 70 percent of the shares of Kinder Morgan Canada.

      "The sale price is subject to customary purchase price adjustments as provided in the purchase agreement," the company said in a news release.

      Yesterday, the Federal Court of Appeal quashed the federal cabinet's approval of the $9.3-billion Trans Mountain Expansion Project, which would triple shipments of diluted bitumen through its system.

      The three-judge panel concluded that the Trudeau government did not meet its legal obligations to consult meaningfully with affected First Nations.

      In addition, the National Energy Board approval process didn't address the consequences of marine transporation of the diluted bitumen for endangered southern resident orcas.

      There are only 75 of these animals remaining in four pods.