Pipeline Operator Enbridge to Buy Spectra Energy for $28 Billion

NEW YORK (AP) — Canada’s Enbridge is buying Houston-based Spectra Energy for about $28 billion, creating North America’s largest energy infrastructure company.
Both companies operate pipelines that deliver oil and natural gas.
Under the terms of the deal announced Tuesday, Spectra Energy shareholders will receive 0.984 a share of the combined company, or about $40.33 for each Spectra Energy share they own.
When the deal closes, which is expected to happen in the in the first quarter of 2017, Enbridge shareholders will own about 57 percent of the combined company and Spectra Energy shareholders will own about 43 percent.
The combined company will be called Enbridge Inc. and keep its current headquarters in Calgary, Canada.
Enbridge shares fell 26 cents to $40.73 before the stock market opened Tuesday. Shares of Spectra Energy Corp. rose $3.48, or 9.6 percent, to $39.63.
Related News
Related News

- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- Energy Transfer to Build $5.3 Billion Permian Gas Pipeline to Supply Southwest
- Enbridge Sees High Demand to Expand 593-Mile Canada-to-U.S. Gulf Oil Pipeline
- Strike Pioneers First-of-Its-Kind Pipe-in-Pipe Installation on Gulf Coast with Enbridge
- 208-Mile Mississippi-to-Alabama Gas Pipeline Moves Into FERC Review
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- Strike Pioneers First-of-Its-Kind Pipe-in-Pipe Installation on Gulf Coast with Enbridge
- Enbridge Sees High Demand to Expand 593-Mile Canada-to-U.S. Gulf Oil Pipeline
Comments