Enbridge Submits Requests to Acquire C$11.4 Billion in Outstanding Equity Securities of Sponsored Vehicles Not Owned by Enbridge

May 17, 2018

S&C client Enbridge Inc. submitted separate proposals to the respective boards of directors of its sponsored vehicles, Spectra Energy Partners, LP, Enbridge Energy Partners, L.P., Enbridge Energy Management, L.L.C. and Enbridge Income Fund Holdings Inc., to acquire all of the outstanding equity securities of those sponsored vehicles not owned by Enbridge. The proposed exchange ratios reflect a value for all of the publicly held equity securities of the sponsored vehicles of C$11.4 billion, or 272 million Enbridge common shares, if all are completed on the terms offered.

The S&C team representing Enbridge was led by George Sampas, along with Mimi Wu. Robert Buckholz advised on securities law matters and Michael Steinberg and Tyler Friedman advised on litigation matters.