-2.8 C
Fort St. John
Wednesday, October 23, 2019
9924 101 ave Fort St. John, B.C.
Advertisement
Home Canadian Press Enbridge signs deals for Enbridge Income Fund and U.S. subsidiaries

Enbridge signs deals for Enbridge Income Fund and U.S. subsidiaries

CALGARY, A.B. – Enbridge Inc. has signed a deal worth $4.7 billion to acquire Enbridge Income Fund Holdings Inc. as it works to simplify its corporate structure.

The company says the offer is 11.3 percent higher than a proposal in May.

Under the terms of an agreement, Enbridge Income Fund shareholders will receive 0.7350 of an Enbridge share and 45 cents in cash for each share they hold.

The agreement comes as Enbridge says it has also signed an agreement to acquire the outstanding units of Enbridge Energy Partners and the outstanding shares of Enbridge Energy Management in transactions valued at a total of about $4.56 billion.

Enbridge Energy Partners unitholders will receive 0.3350 of an Enbridge share for each class A common unit, an 8.7 percent increase to the exchange ratio proposed in May.

Enbridge Energy Management shareholders will receive 0.3350 of an Enbridge share for each Enbridge Energy Management share they hold, a 16 percent increase from the May offer.

(THE CANADIAN PRESS)

get the latest news in your inbox

Author

Local Events

Must Read

Liberal search for dance partners: areas where Trudeau might find common...

OTTAWA — The Liberals won more seats Monday than any other party, but came up short in their effort to return to Parliament with...