Enbridge Adds Major US Oil Arteries in $2.55 Billion Tallgrass Acquisition
Enbridge buys Tallgrass Energy's crude assets for $2.55B cash & launches a C$2.6B share sale to expand its Rockies pipeline network.
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Enbridge shares are trading lower after the company announced a C$2.6 billion stock offering of 38.9 million shares priced at C$66.85 per share to fund its purchase of Tallgrass Energy's crude oil transportation business.
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Enbridge Announces Bought Deal Offering Of 38.9M Common Shares At CDN$66.85/Share For Gross Proceeds Of CDN$2.6B; Expects Close On Or About September 14
Enbridge Agrees With Wholly-Owned Subsidiaries Of Tallgrass Energy To Acquire Its Crude Oil Business For Cash Consideration Of $2.55B
Enbridge Inc. (TSX:ENB) (NYSE:ENB) ("Enbridge" or the "Company") announced today that, through a wholly-owned subsidiary, it has entered into a definitive agreement with wholly-owned subsidiaries of