Enbridge/Spectra Energy Merger, Maintaining SEP Fair Value Estimate and Wide Moat Rating
Enbridge Inc. agreed to acquire Spectra Energy Corp. in an all-stock deal estimated at $28 billion. Spectra Energy shareholders will receive 0.984 shares of the combined company for each share of Spectra Energy. The fractional shares are valued at approximately $40/fractional share, which represents an 11.5% premium on Spectra’s closing price before the announcement of the deal. The transaction is expected to close during the first quarter of 2017.Spectra Energy Partners, LP is expected to cont...
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