Enbridge $3.61 billion acquisition of Enbridge Income Fund Holdings

Overview:

• Enbridge, the Canadian oil and gas pipeline operator, has reached a deal with Enbridge Income Fund Holdings to acquire all of the public shares of the fund in a transaction valued at $3.61 billion.
• The Enbridge Income Fund owns interests in high quality liquids and gas pipeline systems controlled by Enbridge, including the Canadian Mainline Pipeline System.
• Scotiabank and Bank of America Merrill Lynch acted as financial advisors to Enbridge, while Tudor Pickering Holt & Co acted as financial advisor to the ENF Special Committee.
• The deal is subject to approval by ENF shareholders and is expected to close in mid-November 2018.