What was the final strike price of Spectra Energy shares upon the closing of your merger?

Our Answer

John asked this question on March 7, 2017.

Hi John,

The final closing price of Spectra Energy shares trading on the NYSE in US dollars was $40.68 on February 24, 2017. The closing price of Enbridge shares trading on the NYSE in US dollars was $41.34 on February 24, 2017, the last trading day before close of the transaction. This closing price was used to calculate the total market value Enbridge offered in the Share Exchange, but didn’t influence the number of shares being exchanged.

As per the terms of the transaction, Spectra Energy shares were exchanged for Enbridge shares using an exchange ratio of 0.984 Enbridge shares for each Spectra share. If you were formerly a registered shareholder of Spectra Energy, you can expect to receive a package in the mail in the next week or two that outlines your new Enbridge shares. If you previously held your Spectra Energy shares through a bank or broker, you will need to contact your bank or broker for information on your new Enbridge share count and balance.