BRIEF-Enbridge to buy Spectra in a deal valued at about C$37 billion

Tue Sep 6, 2016 6:59am EDT
 
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Sept 6 (Reuters) - Spectra Energy Corp :

* Enbridge and Spectra energy to combine to create North America's premier energy infrastructure company with C$165 billion enterprise value

* Enbridge and Spectra Energy to combine to create North America's premier energy infrastructure company with c$165 billion enterprise value

* Spectra Energy shareholders will receive 0.984 shares of combined company for each share of Spectra Energy common stock they own

* Transaction was unanimously approved by boards of directors of both companies and is expected to close in q1 of 2017

* Deal for C$37 billion (US$28 billion)

* Upon completion of transaction, Enbridge shareholders are expected to own approximately 57 percent of combined company

* Consideration to be received by Spectra Energy shareholders is valued at US$40.33 per Spectra Energy share

* Combined company will be called Enbridge Inc   Continued...