What is the strike price per share of Spectra Energy upon the Enbridge-Spectra merger?

Our Answer

Dave asked this question on 10/19/2016.

Hi Dave,

Upon merger, the consideration to be received by Spectra Energy shareholders is valued at US$40.33 per Spectra Energy share, based on the closing price of Enbridge common shares on September 2, 2016. This represents an approximate 11.5% premium to the closing price of Spectra Energy common stock on September 2, 2016.

You can find out more about the proposed merger with Spectra in this September 6, 2016 news release.