TransCanada PipeLines Ltd denied reports that it raised its offer for Dome Petroleum Ltd &lt;DMP> to 5.5 billion Canadian dlrs from 4.3 billion. A report on the Canadian Broadcasting Corp (CBC) late last night said TransCanadas new bid was rejected by Dome which has accepted a 5.1 billion dlr bid from Amoco Corp &lt;AN>. We still want to acquire Domes assets and are prepared to negotiate. However we have not presented a new proposal to the company since April 16 and Dome has refused to negotiate with TransCanada since that date said TransCanada president Gerald Maier. TransCanada said its proposal consists of two parts -- 4.5 billion dlrs in cash and securities and one billion dlrs of payments to creditors based on future profits. Last week TransCanada valued the first part of its offer at 4.3 billion dlrs but a spokesman today said the company increased the estimated value of that part to 4.5 billion dlrs after the recent gain in Domes stock. Dome was halted today on the Toronto Stock Exchange pending clarification of TransCanadas offer. It last traded at 1.70 dlrs per share. Two weeks ago before TransCanadas offer Dome traded at about 1.10 dlrs per share.
TRANSCANADA <TRP> DENIES REPORTS OF NEW BID