Pipeline operator Enbridge to buy Spectra Energy for US$28 bil. NEW YORK -- Canada's Enbridge is buying Houston-based Spectra Energy for about US$28 billion, creating North America's largest energy infrastructure company. Under the terms of the deal announced Tuesday, Spectra Energy shareholders will receive 0.984 a share of the combined company, or about US$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. Shares of Spectra Energy Corp. rose US$5.43, or 15 percent, to US$41.58.

Source: The China Post September 07, 2016 22:07 UTC