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Enbridge mergers completed

Published by
World Pipelines,


Enbridge Inc., on behalf of itself and certain of its wholly owned US subsidiaries, Enbridge Energy Partners, L.P. (EEP) and Enbridge Energy Management, L.L.C. (EEQ), have announced that they have completed the previously announced respective merger (the EEP Merger) of EEP with a wholly owned subsidiary of Enbridge, and the merger (the EEQ Merger) of EEQ with a wholly owned subsidiary of Enbridge, each pursuant to an Agreement and Plan of Merger dated as of 17 September 2018 (the EEP Merger Agreement and the EEQ Merger Agreement, respectively).

The EEP Merger resulted in Enbridge (through a wholly owned subsidiary of Enbridge) acquiring all of the outstanding public Class A common units of EEP, and EEP becoming an indirect, wholly owned subsidiary of Enbridge, and the EEQ Merger resulted in Enbridge (through a wholly owned subsidiary of Enbridge) acquiring all of the outstanding public Listed Shares of EEQ, and EEQ becoming a direct, wholly owned subsidiary of Enbridge. The EEP Merger and EEQ Merger were approved by EEP unitholders and EEQ shareholders, respectively, at special meetings held on 17 December 2018.

Effective 20 December 2018, EEP unitholders of record as of the close of business on 5 November 2018 (other than Enbridge and its subsidiaries) are entitled to receive from Enbridge pursuant to the EEP Merger Agreement, for each EEP Class A common unit held, 0.3350 common shares of Enbridge, and EEQ shareholders of record as of the close of business on 5 November 2018 (other than Enbridge and its subsidiaries) are entitled to receive from Enbridge pursuant to the EEQ Merger Agreement, for each EEQ Listed Share held, 0.3350 common shares of Enbridge.

Also effective 20 December 2018, the EEP Class A common units and the EEQ Listed Shares will be suspended from trading on, and delisted from, the New York Stock Exchange. Common shares of Enbridge will continue to trade on both the NYSE and the Toronto Stock Exchange under the symbol ‘ENB’.

Read the article online at: https://www.worldpipelines.com/business-news/21122018/enbridge-mergers-completed/

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