Canada's Enbridge (ENB) and Houston-based Spectra Energy (SE) said Tuesday they plan to combine to form a roughly $128 billion energy infrastructure company. Enbridge owners will hold 57 percent of the new entity and Spectra Energy investors will get about 43 percent. The company will keep the Enbridge name and Enbridge president and CEO Al Monaco will keep his position at the helm. The companies said the deal values Spectra stock at $40.33 a share, that's roughly 11.5 percent above Friday's closing price, Monaco said in a statement the deal is 'transformational for both companies and results in unmatched scale, diversity and financial flexibility with multiple platforms for organic growth.'
More from Video
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Is Renewable Energy the Defensive Stock Opportunity You're Missing
AMSC CEO discusses that and China challenges.
Takeda Pharmaceutical CEO Talks Big Pharma Trends
One of pharma's biggest CEO's talks M&A action on the exchange.
Real Money Video Wrap: Citi Surges as View of Stability Saves Sentiment
Citi overcame a mixed print to send its stock surging on Monday.
Real Money Video Wrap: Apple Rallies as Services Segment Takes Center Stage
There is a lot of Apple news to chew on Wednesday.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.