Monday, April 10, 2017

Enbridge Inc. - ENB.t

Enbridge Inc. - ENB.t transports and delivers energy through pipeline networks across the continent.

Enbridge operates the world's longest and most sophisticated crude oil and liquids transportation system, shipping more than 2 million barrels of crude oil and billions of cubic feet of natural gas daily.

On April 7, 2017 the company reported News

Enbridge Inc. has been notified of an unsolicited mini-tender offer made by TRC Capital Corp. to purchase up to 2.5 million common shares of Enbridge, or approximately 0.15 per cent of the company's outstanding common shares, at a price of $53.38 per share. Enbridge does not endorse this unsolicited offer, has no association with TRC Capital or its offer, and recommends that shareholders do not tender their Enbridge shares to the offer.

Enbridge cautions shareholders that the mini-tender offer has been made at a price below market price for Enbridge shares. The offer represents a discount of 4.47 per cent on the Toronto Stock Exchange closing price and 4.58 per cent on the New York Stock Exchange closing price for Enbridge common shares on April 4, 2017, the last trading day before the mini-tender offer was commenced.