Enbridge’s $3.3 Billion Acquisition of Spectra Energy Partners

BofA Merrill Lynch and Scotiabank are acting as financial advisors to Enbridge. McCarthy Tetrault LLP, Sullivan & Cromwell LLP and Vinson & Elkins LLP are acting as Canadian, U.S. legal and tax advisors, respectively, to Enbridge. Jefferies LLC acted as financial advisor to the SEP Conflicts Committee, while Sidley Austin LLP acted as legal advisor to the SEP Conflicts Committee.

The transaction is valued at US $3.3 billion / CAN $4.3 billion based on the closing price of Enbridge’s common shares on the New York Stock Exchange / Toronto Stock Exchange on August 23, 2018.

Enbridge Inc. is North America’s premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities and renewable power generation.

S&C advised Enbridge with a team including Joseph Frumkin, George Sampas, Daniel Belke, Bradley King and Joshua Wright, with Julia Kim and Ana González providing critical assistance. Robert Buckholz, Maryanne Paul and Elah Lanis advised on securities law matters; Matthew Friestedt, Regina Readling and Michael A. Wiseman advised on executive compensation and benefits matters; Richard Pepperman, Joseph Matelis, Clea McClellan, James Congdon and Joshua Handell advised on antitrust matters; Ronald Creamer and Eric Lopata advised on tax matters; John Estes and Alina Iarve advised on financing matters; Michael Steinberg and Brian England are advising on ongoing litigation matters; Eric Kadel and Manon Scales advised on CFIUS matters; and Tia Barancik provided valuable advice.

The V&E tax team advised Enbridge with Ryan Carney (Picture), Gary Huffman and Natan Leyva and associates Christine Mainguy and Jen Maul.

 

Involved fees earner: Ryan Carney – Vinson & Elkins LLP; Gary Huffman – Vinson & Elkins LLP; Natan Leyva – Vinson & Elkins LLP; Christine Mainguy – Vinson & Elkins LLP; Jen Maul – Vinson & Elkins LLP;

Law Firms: Vinson & Elkins LLP;

Clients: Enbridge Inc.;