Best Idea Enbridge Agrees to Acquire EEP for an Additional 9%; Enbridge Remains Deeply Undervalued
Best Idea Enbridge entered into an agreement to acquire the remaining outstanding shares of Enbridge Energy Partners in a deal worth approximately CAD 3.2 billion based on Enbridge’s Sept. 17, 2018, closing price. Under the deal, Enbridge will issue 0.335 shares for each unit of Enbridge Energy Partners, approximating 72 million shares. The increased purchase price represents a 9% increase from the initial proposal in May and a 3% increase to our expectations. We still expect the transaction to ...Enbridge is an energy transportation and distribution companyoperating in 5 segments: Liquids Pipelines, consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals; Gas Distribution, of Co.'s natural gas utility operations; Gas Pipelines and Processi consists of investments in natural gas pipelines and processing facilities; Green Power and Transmission, consists of Co.'s investments in renewable energy assets and transmission facilities; and Energy Services, consist of physical commodity marketing activity and logistical services.
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