Calgary-based Enbridge will absorb Houston-based Spectra in an all-stock deal, with the combined company – to be called Enbridge – to carry an enterprise value of around C$165bn ($128bn), putting it in the same league as global energy giants like Sinopec, Total and BP.
Although Enbridge is first and foremost a hydrocarbon pipelines company, it has become a fast growing player in renewables, both across North America and more recently in Europe through its investments in several large offshore wind projects.
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