Enbridge to buy Spectra Energy Partners for US$3.3 billion

Enbridge to buy Spectra Energy Partners for US$3.3 billion

Enbridge Inc , Canada's largest pipeline operator, said on Friday it would buy its U.S. master limited partnership Spectra Energy Partners for a sweetened US$3.3 billion deal.

FILE PHOTO:    Pipelines run to Enbridge Inc.'s crude oil storage tanks at their tank farm in
FILE PHOTO: Pipelines run to Enbridge Inc.'s crude oil storage tanks at their tank farm in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo

REUTERS: Enbridge Inc , Canada's largest pipeline operator, said on Friday it would buy its U.S. master limited partnership Spectra Energy Partners for a sweetened US$3.3 billion deal.

The company said the deal represents a exchange ratio of 1.111 common shares for each unit of Spectra, representing an increase of 9.8 percent from its initial offer.

(Reporting by Shanti S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: Reuters

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