SPECTRA ENERGY CORP (NYSE:SE) Files An 8-K Other Events
Item8.01.
| Other Events. |
On February16, 2017, Spectra Energy Corp (the Company) and
Enbridge Inc. (Enbridge) issued a press release announcing that
the U.S. Federal Trade Commission (the FTC) has cleared the
previously announced proposed combination of the two companies.
With this clearance from the FTC, the proposed combination of
Enbridge and Spectra Energy has only one remaining regulatory
clearance to secure in order to close the transaction clearance
under the Canadian Competition Act. The companies continue to
expect closing the transaction in the first quarter this year. A
copy of the press release is attached hereto as Exhibit 99.1 and
is incorporated herein by reference.
| Item9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
|
Exhibit Number |
Exhibit Description |
|
| 99.1 | Press release, dated February 16, 2017 |
FORWARD-LOOKING INFORMATION
This communication includes certain forward looking statements
and information (FLI) to provide Enbridge and the Companys
shareholders and potential investors with information about
Enbridge, the Company and their respective subsidiaries and
affiliates, including each companys managements respective
assessment of Enbridge, the Company and their respective
subsidiaries future plans and operations, which FLI may not be
appropriate for other purposes. FLI is typically identified by
words such as anticipate, expect, project, estimate, forecast,
plan, intend, target, believe, likely and similar words
suggesting future outcomes or statements regarding an outlook.
All statements other than statements of historical fact may be
FLI. In particular, this document contains FLI pertaining to, but
not limited to, information with respect to the proposed
transaction jointly announced by Enbridge and the Company on
September6, 2016.
Although we believe that the FLI is reasonable based on the
information available today and processes used to prepare it,
such statements are not guarantees of future performance and you
are cautioned against placing undue reliance on FLI. By its
nature, FLI involves a variety of assumptions, which are based
upon factors that may be difficult to predict and that may
involve known and unknown risks and uncertainties and other
factors which may cause actual results, levels of activity and
achievements to differ materially from those expressed or implied
by these FLI, including, but not limited to, the following: the
timing and completion of the transaction, including receipt of
regulatory and shareholder approvals and the satisfaction of
other conditions precedent; interloper risk; the realization of
anticipated benefits and synergies of the transaction and the
timing thereof; the success of integration plans; the focus of
management time and attention on the transaction and other
disruptions arising from the transaction; estimated future
dividends; financial strength and flexibility; debt and equity
market conditions, including the ability to access capital
markets on favorable terms or at all; cost of debt and equity
capital; potential changes in the Enbridge share price which may
negatively impact the value of consideration offered to
shareholders of the Company; expected supply and demand for crude
oil, natural gas, natural gas liquids and renewable energy;
prices of crude oil, natural gas, natural gas liquids and
renewable energy; economic and competitive conditions; expected
exchange rates; inflation; interest rates; tax rates and changes;
completion of growth projects; anticipated in-service dates;
capital project funding; success of hedging activities; the
ability of management of Enbridge, its subsidiaries and
affiliates to execute key priorities, including those in
connection with the transaction; availability and price of labor
and construction materials; operational performance and
reliability; customer, shareholder, regulatory and other
stakeholder approvals and support; regulatory and legislative
decisions and actions; public opinion; and weather. We caution
that the foregoing list of factors is not exhaustive. Additional
information about these and other assumptions, risks and
uncertainties can be found in applicable filings with Canadian
and U.S. securities regulators, including any proxy statement,
prospectus or registration statement to be filed in connection
with the transaction. Due to the interdependencies and
correlation of these factors, as well as other factors, the
impact of any one assumption, risk or uncertainty on FLI cannot
be determined with certainty.
Except to the extent required by law, we assume no obligation to
publicly update or revise any FLI, whether as a result of new
information, future events or otherwise. All FLI in this document
is expressly qualified in its entirety by these cautionary
statements.
About SPECTRA ENERGY CORP (NYSE:SE)
Spectra Energy Corp is a natural gas infrastructure company. The Company owns and operates natural gas-related energy assets and a crude oil pipeline system connecting Canadian and the United States producers to refineries. It conducts its business in four segments: Spectra Energy Partners, Distribution, Western Canada Transmission & Processing and Field Services. Its Spectra Energy Partners segment provides transmission, storage and gathering of natural gas, as well as the transportation and storage of crude oil through interstate pipeline systems. Its Distribution segment provides distribution services in Canada through its subsidiary, Union Gas Limited. Its Western Canada Transmission & Processing business comprises the British Columbia (BC) Pipeline, BC Field Services, Canadian Midstream and Empress NGL operations, and Maritimes & Northeast Pipeline Limited Partnership. Its Field Services segment consists of approximately 50% investment in DCP Midstream, LLC. SPECTRA ENERGY CORP (NYSE:SE) Recent Trading Information
SPECTRA ENERGY CORP (NYSE:SE) closed its last trading session down -0.28 at 41.41 with 11,989,503 shares trading hands.