Enbridge-Spectra Mega-Deal Points to Further Midstream Diversity

October 2016, Vol. 243, No. 10

Oil-intensive Enbridge’s acquisition of natural gas pipeline-focused Spectra Energy emphasized a growing trend among midstream companies to diversify while creating North America’s largest infrastructure company in the process. The $28 billion deal, announced Sept. 6 and expected to close in the first quarter of 2017, will leave Enbridge shareholders owning about 57% of the combined company and Spectra shareholders claiming about 43%. “This is a lot less risky than holding [stock from] either Spectra or Enbridge individually,” Bill Yardley, president of U.S. transmission and storage at Spectra, told Houston Business Journal. “There is an incredible…

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