Enbridge Shares Tumble on $14 Billion Acquisition of Gas Distribution Companies from Dominion
06 Setembro 2023 - 11:51AM
Dow Jones News
By Adriano Marchese
Enbridge shares were sharply lower Wednesday morning after the
company said it agreed to purchase utilities in the U.S. from
Dominion Energy for $14 billion.
At 10:16 a.m. ET, shares were trading 4.9% lower at 45.78
Canadian dollars ($33.56).
Late Tuesday, the Canadian natural gas utility company said the
acquisition will facilitate the creation of the largest natural gas
utility franchise in North America. The deal will see Enbridge
acquire the East Ohio Gas Company, Public Service Company of North
Carolina, and Questar Gas and its related Wexpro companies.
Enbridge also carried out a C$4 billion dollar ($2.93 billion)
bought-deal offering of common shares Tuesday, which it said is
expected to "fully address the company's planned discrete common
equity issuance needs to finance this transaction."
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
September 06, 2023 10:36 ET (14:36 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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