Enbridge Inc. (TSX:ENB)(NYSE:ENB) (Enbridge) has been notified of an unsolicited mini-tender offer made by TRC Capital Corporation (TRC Capital) to purchase up to 2,500,000 common shares or Enbridge, or approximately 0.15% of the company's outstanding common shares, at a price of $53.38 per share. Enbridge does not endorse this unsolicited offer, has no association with TRC Capital or its offer, and recommends that shareholders do not tender their Enbridge shares to the offer.
Enbridge cautions shareholders that the mini-tender offer has been made at a price below market price for Enbridge shares. The offer represents a discount of 4.47% on the Toronto Stock Exchange closing price and 4.58% on the New York Stock Exchange closing price for Enbridge common shares on April 4, 2017, the last trading day before the mini-tender offer was commenced.
About Enbridge Inc.
Enbridge Inc. is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities and renewable power generation. The Company safely delivers an average of 2.8 million barrels of crude oil each day through its Mainline and Express Pipeline, and accounts for nearly 68% of U.S.-bound Canadian crude oil production, and moves approximately 20% of all natural gas consumed in the U.S. serving key supply basins and demand markets. The Company's regulated utilities serve approximately 3.5 million retail customers in Ontario, Quebec, New Brunswick and New York State. Enbridge also has a growing involvement in electricity infrastructure with interests in more than 2,500 MW of net renewable generating capacity, and an expanding offshore wind portfolio in Europe. The Company has ranked on the Global 100 Most Sustainable Corporations index for the past eight years; its common shares trade on the Toronto and New York stock exchanges under the symbol ENB.
Life takes energy and Enbridge exists to fuel people's quality of life. For more information, visit www.enbridge.com.
SOURCE: Enbridge Inc.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.