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...
Spectra Energy Partners is a partnership holding company. Through its subsidiaries and equity affiliates, the company is engaged in the transmission, storage and gathering of natural gas, and the transportation and storage of crude oil, through interstate pipeline systems in the U.S. and Canada. The company's operations and activities are managed by its general partner, Spectra Energy Partners (DE) GP, LP. The company manages its business in two reportable segments: U.S. Transmission, which provides transmission, storage, and gathering of natural gas in northeastern and southeastern U.S.; and Liquids, which provides transportation and storage of crude oil in central U.S. and Canada.
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