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The Deal: In a deal that will create one of North America's largest natural-gas pipeline systems and one of its biggest energy-services concerns, Tr PipeLines and Nova Corp. have agreed to merge their operations. The $4.6 billion stock deal will easily rank as the biggest corporate transaction in Canada's energy industry, Terms call for Nova shareholders to receive 0.52 TransCanada share for each Nova share. Once this has been completed, the combined company will be split into separate energy and chemicals businesses. On the news, TransCanada shares fell 6.25Q, or 0.3%, to $20.875/ share, while Nova shares were unchanged at $10.25/share.