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Enbridge to merge with Spectra Energy

Calgary-based Enbridge is looking to purchase Spectra Energy of out Houston for stock worth $37 billion. The two companies combined would create the largest energy infrastructure company in North America, valued at $165 billion.

The merger would run under the Enbridge name and be headquartered in Calgary. Their natural gas pipelines business would remain in Houston, while the liquids pipelines business would be run out of Edmonton.

If the proposed deal is approved, Enbridge shareholders would own roughly 57 per cent of the energy giant, with the rest owned by Spectra shareholders. Spectra has raw gas gathering pipelines in the North Montney region.

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