TransCanada Corporation (USA) made a smart move by offering to buy Columbia Pipeline Partners LP for $15.75 as a competing bid is unlikely despite the offer is on the lower side.The proposed offer is an 11.3 percent premium over Columbia's average 30-day closing price, but a modest 2.9 percent premium to Friday's closing price of $15.30."While a strategic review of CPPL was announced at the end of June, TRP clearly would like to take advantage of the recent churning in the MLP market and weakness in CPPL's unit price since the end of July —a shrewd move indeed," D.A. Davidson analyst Poe Fratt wrote in a note.Read more