September 6, 2016 / 10:42 AM / a year ago

Enbridge to buy Spectra Energy in C$37 bln deal

Sept 6 (Reuters) - Enbridge Inc, Canada's largest pipeline company, said on Tuesday it would buy Spectra Energy Corp in an all-stock deal valued at about C$37 billion ($28 billion) to create the largest North American energy infrastructure company.

Under the terms of the deal, which has a pro-forma enterprise value of C$165 billion, Spectra Energy shareholders will get 0.984 shares of the combined company for each share of Spectra Energy held.

Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'Silva

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