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Enbridge Announces Strategic Acquisition Of Three U.S. Based Utilities To Create Largest Natural Gas Utility Franchise In North America

Sep 05, 2023•almost 2 years ago

Acquiring Company

Enbridge

Acquired Company

Three Utilities

Calgary

Description

Enbridge Inc. ("Enbridge" or the "Company") (TSX: ENB) (NYSE: ENB) today announced that it has entered into three separate definitive agreements with Dominion Energy, Inc. to acquire EOG, Questar and PSNC for an aggregate purchase price of US$14.0 billion (CDN$19 billion), comprised of $US9.4 billion of cash consideration and US$4.6 billion of assumed debt, subject to customary closing adjustments.

Company Information

Company

Enbridge

Location

Calgary, Alberta, Canada

About

Our name spells out our mission: a bridge to a cleaner energy future. That bridge safely connects millions of people around the world to the energy they rely on every day, fueling quality of life. Throughout our history, and especially today, we are looking beyond the horizon to invest in and build modern infrastructure, resilient communities and reliable energy. We operate across North America and beyond—powering industry, empowering society and safely delivering reliable, affordable sources of energy through our four core businesses: - Liquids pipelines - Natural gas pipelines, - Gas distribution and storage - Renewable energy

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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