Best Idea Enbridge Pays 10% Premium for Spectra; Stock Still Deeply Undervalued
Best idea Enbridge has entered into a definitive agreement to acquire all public shares of Spectra Energy Partners in a stock deal valued at $3.3 billion (CAD 4.3 billion). Enbridge raised its offer to 1.111 of the company’s common shares for each unit of Spectra, a 10% increase from its initial 1.0123 proposed exchange rate. The deal represents an additional premium to our expectations, which included a 5% premium to the initial exchange rate.The stock is down 2% on the news, but we see this a...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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