BUZZ-Spectra Energy Corp: Enbridge to buy company for about C$37 bln

Tue Sep 6, 2016 7:27am EDT
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** Oil and natural gas pipeline company's shares up 5.8 pct at $38.25 in thin premarket trade

** Canada's largest pipeline company Enbridge Inc to buy Spectra Energy in an all-stock deal valued at about C$37 billion ($28 billion)

** Spectra Energy shareholders will get 0.984 shares of the combined company for each share of Spectra Energy held, or about $40.33 per share, a premium of about 11.5 percent to Spectra's closing price on Friday

** Deal, largest ever by Enbridge, would create the largest North American energy infrastructure company

** U.S.-listed shares of Enbridge, with no trades premarket, closed at $40.99 on Sept. 2