06:19:10 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Enbridge Income Fund Holdings Inc
Symbol ENF
Shares Issued 176,123,696
Close 2018-09-18 C$ 33.49
Market Cap C$ 5,898,382,579
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Globe/CP say Enbridge hikes bids on three subsidiaries

2018-09-19 07:40 ET - In the News

See In the News (C-ENB) Enbridge Inc

The Globe and Mail reports in its Wednesday, Sept. 19, edition that less than a month after saying it would not increase its offer to buy the equity it does not own in three North American subsidiaries, Enbridge is doing just that. A Canadian Press dispatch to The Globe reports that Enbridge announced on Tuesday it would increase the offers it made last May for Enbridge Income Fund Holdings by 11.3 per cent and for two related subsidiaries, Enbridge Energy Partners LP and Enbridge Energy Management LLC, by 8.7 per cent and 16 per cent. The changes, which now include a cash component in addition to Enbridge shares for Enbridge Income Fund shares, take the estimated total value of the deals announced Tuesday to about $9.3-billion. When combined with the $4.3-billion offered in a sweetened deal for Spectra Energy Partners LP units in late August, the total cost of bringing its four sponsored subsidiaries in-house will be about $13.6-billion, up from the $11.4-billion announced in May. The offers were adjusted after "arms-length negotiations" and the final premiums are "supported by fundamental valuations and in line with market precedents," said Enbridge spokesman Michael Barnes.

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