Ms. Nafeesa Kassam reports
ENBRIDGE INCOME FUND HOLDINGS INC. ACKNOWLEDGES ENBRIDGE INC. OFFER AND ESTABLISHES A SPECIAL COMMITTEE
Enbridge Income Fund Holdings Inc. has received a non-binding offer from Enbridge Inc. to acquire all of the outstanding common shares of the company not currently owned by Enbridge.
The board of directors of the company has established a special committee of independent directors to review and consider the proposal.
The proposed transaction is subject to conditions, including the review and favourable recommendation by the special committee, approvals by the board and the Enbridge board of directors, approvals by the shareholders of the company, and the negotiation of a definitive agreement. Any definitive agreement is expected to contain customary closing conditions, including standard regulatory notifications and approvals. There can be no assurance that any transaction will be consummated.
Shareholders of the company do not need to take any action with respect to the proposal at this time.
About Enbridge Income Fund Holdings Inc.
The company, through its investment in Enbridge Income Fund, indirectly holds high-quality, low-risk energy infrastructure assets. The fund's assets consist of a portfolio of Canadian liquids transportation and storage businesses, including the Canadian Mainline, the Regional oil sands system, the Canadian segment of the Southern Lights pipeline, Class A units entitling the holder to receive defined cash flows from the U.S. segment of the Southern Lights pipeline, a 50-per-cent interest in the Alliance pipeline, which transports natural gas from Canada to the United States, and interests in more than 1,400 megawatts of renewable and alternative power generation assets.
We seek Safe Harbor.
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