Enbridge buys spectra energy corp. for nearly $40 billion

CALGARY — Enbridge Inc. Electricity icon (TSX:ENB) plans to buy Houston-based Spectra Energy Corp. Electricity 2pm live in an all-stock friendly deal worth C$37 billion that they say would create the largest energy infrastructure company in North America.

“This transaction is transformational for both companies and results in unmatched scale, diversity and financial flexibility with multiple platforms for organic growth,” Monaco told analysts in a conference call after announcing the deal.

Monaco said the deal would add Spectra Energy’s strength in natural gas to Enbridge’s strong position in oil and other liquids infrastructure, although both companies are already active in various segments of the energy infrastructure industry.

The enlarged company would be headquartered in Calgary and Monaco would remain as president and CEO, while Spectra Energy CEO Greg Ebel would become non-executive chairman of Enbridge’s board of directors.

Al Monaco, president and chief executive officer of Enbridge Inc., speaks in Houston, Tx., on April 22, 2015. Gas utility boston (Photo: F. Gas density conversion Carter Smith/Bloomberg via Getty Images)

“Along with Al, I expect to be one of the largest — if not the largest — individual shareholder in Enbridge,” Ebel said in the same conference call. Gas and supply locations “So our alignment with investors is absolutely clear.”

Under terms of the deal, Spectra Energy shareholders would receive 0.984 shares of the combined company for each share of Spectra Energy common stock they own. Gas exchange in the lungs is facilitated by Based on the closing price of Enbridge common shares on Friday, that translates to US$40.33 per Spectra Energy share, representing about a 11.5 per cent premium to Spectra Energy’s closing stock price Friday.

Monaco said the companies will need to see what divestitures may be required by competition authorities, although he doesn’t see much overlap between Spectra Energy’s natural gas infrastructure business and Enbridge’s oil and liquids operations.

“I think at this point we’re not identifying anything specifically but we are working on a couple things that would make up that $2 billion that we noted,” Monaco said.

The natural gas infrastructure business would be based in Houston and the liquids business would be based in Edmonton, both companies said. Gas weed The natural gas distribution business would remain based in Ontario.

Spectra Energy shares closed Friday at US$36.15 on the New York Stock Exchange before the Labour Day holiday weekend. Gas and electric nyc The stock was up about 12 per cent in early trading Tuesday after the conference call. Gas finder app Enbridge shares were at C$55.09. Electricity vs magnetism up about 3.5 per cent, on the Toronto Stock Exchange.

Pipeline opponents locked and chained the doors of the constituency offices of Industry Minister James Moore and MP Andrew Saxton on June 24, 2014. Gas guzzler tax They also posted notices on the office windows.

Hours after the federal government gave conditional approval to the Enbridge Northern Gateway pipeline on June 17, 2014, hundreds of protesters rallied in downtown Vancouver for an event dubbed “The Answer Is Still No.”

A woman shouts as she and hundreds of other protesters block traffic during a rally in Vancouver June 17, 2014 to oppose the Enbridge Northern Gateway pipeline proposal.

Joe Taylor, left, of Curve Lake, Ont., who is half Mohawk and half Ojibwa, holds a Mohawk flag during an anti-pipeline rally in Vancouver on June 17, 2014.

A woman lies on the street during an anti-pipeline rally in Vancouver dubbed “The Answer Is Still No” after the federal government gave conditional approval to the Enbridge Northern Gateway pipeline on June 17, 2014.

A cargo ship sits docked at Rio Tinto Alcan’s Kitimat Smelter on Douglas Channel, the proposed termination point for an oil pipeline in the Enbridge Northern Gateway Project, in Kitimat, B.C., on Jan. Electricity in homes 10, 2012.

The proposed tanker route leaving from Kitimat, B.C. Electricity games online free is shown on a map. Electricity water analogy The 1,177-kilometre twin pipelines would run from Bruderheim, just outside Edmonton, to a tanker port on the northern coast of B.C.

This Jan. Electricity 101 10, 2012 photo shows the Douglas Channel, the proposed termination point for an oil pipeline in the Enbridge Northern Gateway Project at Kitimat, B.C. Electricity meme The Rio Tinto smelter is at left and the town of Kitimat at upper right.

RCMP officers keep an eye on an event with B.C. Gas x side effects liver Premier Christy Clark to celebrate a recent land sale to the Haisla in Kitimat, B.C. Ag gaston funeral home birmingham al on June 17, 2014. Gas stoichiometry practice Protesters to the Enbridge Northern Gateway project are seen in the background.

A worker, left, uses a small boat to move logs on the Douglas Channel at dusk in Kitimat, B.C., on January 11, 2012. 76 gas station locations The Kitimat Marine Terminal would include two ship berths and 19 tanks to store oil and condensate. Electricity load profile The facility would have the capacity to serve around 220 tankers per year.

The Douglas Channel is the proposed shipping route for oil tanker ships in the Enbridge Northern Gateway Project, just south of Kitimat, B.C.

Enbridge workers are seen at a job site in this file image. Electricity off The company says Northern Gateway would result in 3,000 new construction jobs in B.C. Gas urban dictionary and 560 long-term jobs.

A Kermode bear, better know as the Spirit Bear is seen fishing in the Riordan River on Gribbell Island in the Great Bear Rainforest, B.C. Power quiz questions on Sept, 18, 2013. Electricity and magnetism physics Pipeline opponents fear the Enbridge project will endanger wildlife along the project’s route.

Enbridge workers are seen at a job site in this file image. X men electricity mutant The Northern Gateway pipeline would be worth an estimated $300 billion in additional gross domestic product over 30 years.

The 1,177-kilometre twin pipelines would run from Bruderheim, just outside Edmonton, to a tanker port in Kitimat, on the northern coast of B.C.

More than 1,000 people gathered at Sunset Beach in Vancouver on May 10, 2014 to protest the proposed Enbridge Northern Gateway pipeline project.

Donna Morgan holds a stuffed polar bear painted black to simulate oil during a protest against the Enbridge Northern Gateway pipeline in Vancouver on May 10, 2014.

More than 1,000 people gathered at Sunset Beach in Vancouver on May 10, 2014 to protest the proposed Enbridge Northern Gateway pipeline project.

Joan Lemmers, of Lions Bay, B.C., wears a salmon hat during a protest against the Enbridge Northern Gateway pipeline in Vancouver May 10, 2014.

More than 1,000 people gathered at Sunset Beach in Vancouver on May 10, 2014 to protest the proposed Enbridge Northern Gateway pipeline project.

More than 1,000 people gathered at Sunset Beach in Vancouver on May 10, 2014 to protest the proposed Enbridge Northern Gateway pipeline project.

More than 1,000 people gathered at Sunset Beach in Vancouver on May 10, 2014 to protest the proposed Enbridge Northern Gateway pipeline project.

More than 1,000 people gathered at Sunset Beach in Vancouver on May 10, 2014 to protest the proposed Enbridge Northern Gateway pipeline project.

More than 1,000 people gathered at Sunset Beach in Vancouver on May 10, 2014 to protest the proposed Enbridge Northern Gateway pipeline project.

More than 1,000 people gathered at Sunset Beach in Vancouver on May 10, 2014 to protest the proposed Enbridge Northern Gateway pipeline project.

More than 1,000 people gathered at Sunset Beach in Vancouver on May 10, 2014 to protest the proposed Enbridge Northern Gateway pipeline project.

Syncrude’s Mildred Lake Upgrader, part of The Syncrude Project complex for oil sands processing, is pictured Monday, March 8, 2006 in Fort McMurray, Alberta, Canada.

The Syncrude oil sands extraction facility is reflected in a lake reclaimed from an old mine near the town of Fort McMurray in Alberta, Canada on October 22, 2009.

A disused mining machine on display in front of the Syncrude oil sands extraction facility near the town of Fort McMurray in Alberta on October 22, 2009.

Oil sits on the surface at a Suncor Energy Inc. Z gas el salvador precios oilsands mining operation near Fort McMurray, Alberta, Canada, on Tuesday, Aug. Gas pains or contractions 13, 2013. B games basketball Photographer:

Oils mixes with water at a tailings pond at a Suncor Energy Inc. Gas jet size chart oilsands mining operation near Fort McMurray, Alberta, Canada, on Tuesday, Aug. Electricity deregulation map 13, 2013.

Fort McMurray is in the heart of the world’s biggest single oil deposit – the Athabasca Oil Sands, and the oil is extracted by surface mining and refined in the region. J gastrointest surg The oil production is at the heart of the economy.

In this Aug. Electricity jokes puns 5, 2005 file photo, the Syncrude upgrader spreads out towards the horizon at the company’s oil sands project in Ft. Grade 6 science electricity test McMurray, Alberta, Canada.

Aerial view of a lake and forests in the vicinity of oil sands extraction facilities near the town of Fort McMurray in Alberta, Canada on October 23, 2009.

Workers use heavy machinery in the tailings pond at the Syncrude oil sands extraction facility near the town of Fort McMurray in Alberta , Canada on October 25, 2009.

Fort McMurray is in the heart of the world’s biggest single oil deposit – the Athabasca Oil Sands, and the oil is extracted by surface mining and refined in the region. A level physics electricity questions and answers The oil production is at the heart of the economy.

Company officials said the leak – at what it calls its Primrose operation – was caused by faulty machinery at one of the wells, affected an area of approximately 13.5 hectares and released as much as 3,200 litres of bitumen each day.

Preliminary tallies put the death toll from the leak at 16 birds, seven small mammals and 38 amphibians. Natural electricity examples Dozen were rescued and taken to an Edmonton centre for rehabilitation.

Little Buffalo band member Melina Laboucan-Massimo scoops up July 13, 2012 what appears to oil from the pond shoreline near the site of a 4.5 million-litre Plains Midstream pipeline leak detected April 29, 2011. Electricity lesson plans 4th grade Photos taken at the site and released by Greenpeace of Alberta’s second-worst pipeline spill suggest at least part of the site remains heavily contaminated despite company suggestions that the cleanup is complete.

A boat passes by a boom stretching out to contain a pipeline leak on the Gleniffer reservoir near Innisfail, Alta., Tuesday, June 12, 2012. Wd gaster Plains Midstream Canada says one of their non-functioning pipelines leaked between 1,000-3,000 barrels of sour crude near Sundre, Alberta, on June 7 and flowed downstream in the Red Deer river to the reservoir.

Debris pushes up against a boom as it stretches out to contain a pipeline leak on the Gleniffer reservoir near Innisfail, Alta., Tuesday, June 12, 2012.

A boom stretches out to contain a pipeline leak on the Gleniffer reservoir near Innisfail, Alta., Tuesday, June 12, 2012. Z gastroenterol journal Plains Midstream Canada says one of their non-functioning pipelines leaked between 1,000-3,000 barrels of sour crude near Sundre, Alberta, on June 7 and flowed downstream in the Red Deer river to the reservoir.

A boom stretches out to contain a pipeline leak on the Gleniffer reservoir near Innisfail, Alta., Tuesday, June 12, 2012. Gas house dance hall Plains Midstream Canada says one of their non-functioning pipelines leaked between 1,000-3,000 barrels of sour crude near Sundre, Alberta, on June 7 and flowed downstream in the Red Deer river to the reservoir.

A photographer snaps a boom stretching out to contain a pipeline leak on the Gleniffer reservoir near Innisfail, Alta., Tuesday, June 12, 2012. B games unblocked Plains Midstream Canada says one of their non-functioning pipelines leaked between 1,000-3,000 barrels of sour crude near Sundre, Alberta, on June 7 and flowed downstream in the Red Deer river to the reservoir.

A boom stretches out to contain a pipeline leak on the Gleniffer reservoir near Innisfail, Alta., Tuesday, June 12, 2012. Gas tax in ct Plains Midstream Canada says one of their non-functioning pipelines leaked between 1,000-3,000 barrels of sour crude near Sundre, Alberta, on June 7 and flowed downstream in the Red Deer river to the reservoir.

A worker slows traffic while a boom stretches out to contain a pipeline leak on the Gleniffer reservoir near Innisfail, Alta., Tuesday, June 12, 2012. Electricity in costa rica for travelers Plains Midstream Canada says one of their non-functioning pipelines leaked between 1,000-3,000 barrels of sour crude near Sundre, Alberta, on June 7 and flowed downstream in the Red Deer river to the reservoir.

A no swimming sign along the banks of the Gleniffer reservoir while a boom stretches out to contain a pipeline leak on the lake near Innisfail, Alta., Friday, June 12, 2012. Electricity word search answers Plains Midstream Canada says one of their non-functioning pipelines leaked between 1,000-3,000 barrels of sour crude near Sundre, Alberta, on June 7 and flowed downstream in the Red Deer river to the reservoir.

Oil from a pipeline leak coats a pond near Sundre, Alta., Friday, June 8, 2012. Gas laws worksheet chapter 5 answers Plains Midstream Canada says one of their non-functioning pipeline leaked between 1,000-3,000 barrels of oil.

Oil from a pipeline leak coats a pond near Sundre, Alta., Friday, June 8, 2012. Gas in oil causes Plains Midstream Canada says one of their non-functioning pipeline leaked between 1,000-3,000 barrels of oil.

Oil from a pipeline leak coats a pond near Sundre, Alta., Friday, June 8, 2012. Electricity projects in pakistan Plains Midstream Canada says one of their non-functioning pipeline leaked between 1,000-3,000 barrels of oil.

Tracks pass through oil on the banks of the Gleniffer reservoir after a pipeline leak near Sundre, Alta., on Friday, June 8, 2012. Gas constant in kj Plains Midstream Canada says one of their non-functioning pipelines leaked between 1,000-3,000 barrels of oil.

Wreckage from the August 3rd train derailment and subsequent oil spill is seen lining the shore of Lake Wabamun on Monday, August 8, 2005, as clean-up continues.

Wreckage and black oil from the August 3rd train derailment and subsequent oil spill are seen lining the shore and waters of Lake Wabamun on Monday, August 8, 2005, as clean-up continues.

White absorbent boom is seen lining the shores of Lake Wabamun, Alberta, as the clean-up effort from the August 3rd train derailment and subsequent oil spill continues on Monday, August 8, 2005.

Wreckage and black oil from the August 3rd train derailment and subsequent oil spill are seen lining the shore and waters of Lake Wabamun on Monday, August 8, 2005, as clean-up continues.

Wreckage and black oil from the August 3rd train derailment and subsequent oil spill are seen lining the shore and waters of Lake Wabamun on Monday, August 8, 2005, as clean-up continues. 5 gases Lake Wabamun was severely polluted when a train carrying heavy oil derailed on August 3, 2005, spilling much of it’s load into the lake.

Rail cars leak bunker fuel oil, meters from summer homes bordering Lake Wabamun, after a freight train derailed, in this August 3, 2005 file photo, near the town of Wabamun, Alta. Electricity through wood Canadian National Railway faces an environmental charge stemming from the train derailment and oil spill at a popular Alberta lake last summer.