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Enbridge Inc. completes C$37B acquisition of Spectra Energy Corp

Date Closed

February 27, 2017

Lead Office



37.00 Billion CAD

On February 27, 2017, Enbridge Inc. completed its stock-for-stock merger to acquire all of the outstanding common stock of Spectra Energy Corp for approximately C$37B. This transaction is the largest foreign acquisition ever completed by a Canadian company and has resulted in Enbridge becoming North America’s largest energy infrastructure company.

This acquisition brings together the leading liquids and natural gas franchises in North America. The transaction combines Enbridge's liquid-weighted midstream assets located primarily in western Canada and the US Midwest with Spectra's network of primarily gas-related midstream assets in the US North, Gulf Coast and Midwest and the Canadian province of British Columbia.

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.

McCarthy Tétrault advised Enbridge with a team led by John Osler and that included Ben Aberant and Shana Wolch (Labour & Employment),  Garth Girvan, Cathy Samuel, Wilson Acton, Jeremy Busch-Howell, Frances and Candy, Melissa Colborne (Corporate/M&A), Justin Lapedus (Financial Services), Oliver Borgers, Michele Siu and Jonathan Bitran (Competition),  Neil Finkelstein,  Geoff Hall, Renee Reichelt, Eric Block, Emily MacKinnon and Paul Davis (Litigation),  Jennifer Del Vecchio (Pensions & Benefits)  Ron Mar and Rob Nearing (Tax),  George Vegh (Regulatory) and  Joanna Rosengarten and Kim Howard (Environmental).