Enbridge Acquires Spectra Energy in Stock Deal
Enbridge has agreed to acquire Spectra Energy in an all-stock deal estimated at approximately $28 billion. Spectra Energy shareholders will receive shares of Enbridge valued at approximately $40 per share, an 11% premium over Spectra’s previous closing price. Upon closing the deal, Enbridge shareholders will own approximately 57% of the company, while Spectra Energy shareholders will own the remaining 43%. Enbridge CEO Al Monaco will serve as the CEO of the combined company, Enbridge, Inc.The ...
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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