Enbridge Inc. (ENB) has consolidated its acquisition of master limited partnership (MLP) operations in Texas by approving the acquisition of all outstanding Enbridge Energy Partners LP (EEP) public Class A common units, as well as all outstanding Enbridge Energy Management LLC (EEQ) public listed shares. Two deals had been earmarked with an over $3.5B value when news of their pending purchase became public knowledge a few months ago.
Both MLPs will no longer be traded on the New York Stock Exchange (NYSE). They will now become Enbridge subsidiaries.
News of the completed acquisitions came just days after Enbridge fulfilled its acquisition of Spectra Energy Partners, which is also an MLP based in Houston. In September, Enbridge announced it would acquire what was left of Enbridge Income Fund Holdings Inc. (ENF), which is based in Canada.