Deals
Enbridge Sweetens Deal to Buy Spectra for $3.3 Billion
- Company joins others in ditching MLP model after tax changes
- Latest offer comes after U.S. concessions on tax policy change
Photographer: Daniel Acker/Bloomberg
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Pipeline giant Enbridge Inc. agreed to buy all outstanding shares of Spectra Energy Partners LP in a sweetened deal aimed at streamlining its corporate structure in the wake of U.S. tax changes.
The agreement to acquire its master limited partnership is valued at $3.3 billion, based on the closing price of Enbridge shares in New York trading on Thursday. It follows a proposal in May that failed to include a premium for Spectra unitholders.