With spectra energy deal, enbridge seeks to upstage kinder morgan
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Enbridge Inc. is angling to be the must own pipeline stock in North America, supplanting struggling industry bellwether Kinder Morgan KMI +2.19%.

That’s the takeaway from Enbridge’s $28 billion all-stock acquisition ofSpectra Energy SE +13.42%, a deal the Calgary-based company says will create the largest energy infrastructure firm in North America with a combined enterprise value of $127 billion, surpassing competitors Kinder Morgan, Energy Transfer and Enterprise Products Partners.

Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S. Daniel Acker/Bloomberg

Tuesday’s deal diversifies Enbridge’s oil-heavy transport and midstream operations into natural gas, it creates a USA-to-Canada operation that achieves the objectives of the Keystone XL Pipeline, and puts the combined company on track for double digit dividend growth rates in the coming years.

At a time when Energy Transfer had to rely on legal loopholes to renege from a $33 billion deal for Williams and Kinder Morgan has slashed its dividend to digest a $44 billion master limited partnership consolidation two years ago, it is Enbridge’s deal for Spectra that may deliver on the promise of pipeline consolidation.

  • How to improve America’s dismal airlines

    SKYTRAX recently released its annual airline rankings, and the message is clear: given the choice, it is better to fly on Asian carriers and to avoid American ones.
    Emirates was voted the top airline by flyers across the globe, followed by Qatar Airways, Singapore Airlines, Cathay Pacific and All Nippon Airways (ANA). It is the first clean sweep of the top five for Asian carriers since 2013. (Turkish Airlines, now seventh, made the cut in the intervening years.)
    And the big four airlines in the United States? To find them, you’ll have to scroll down a bit. And then a bit more. Delta lies in 35th place, trailed by Southwest at 66th, United at 68th and American at 77th—just below Ethiopian Airlines and above the Japanese low-cost carrier Peach.

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    By Patrick Burnson, Executive Editor · May 1, 2016 Writing to his cousin after a long illness, Mark Twain assured her that “the reports of my death have been greatly […]

  • With Spectra Energy Deal, Enbridge Seeks To Upstage Kinder Morgan

    Enbridge Inc. is angling to be the must own pipeline stock in North America, supplanting struggling industry bellwether Kinder Morgan KMI +2.19%. That’s the takeaway from Enbridge’s $28 billion all-stock […]

  • Navistar Steps Off The Bankruptcy Brink With Volkswagen Partnership

    Four years ago, many believed Navistar was headed towards an almost certain bankruptcy. The truck maker had squandered billions on a diesel engine that didn’t win the approval of the Environmental […]

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NEWS

How to improve America’s dismal airlines

SKYTRAX recently released its annual airline rankings, and the message is clear: given the choice, it is better to fly on Asian carriers and to avoid American ones.
Emirates was voted the top airline by flyers across the globe, followed by Qatar Airways, Singapore Airlines, Cathay Pacific and All Nippon Airways (ANA). It is the first clean sweep of the top five for Asian carriers since 2013. (Turkish Airlines, now seventh, made the cut in the intervening years.)
And the big four airlines in the United States? To find them, you’ll have to scroll down a bit. And then a bit more. Delta lies in 35th place, trailed by Southwest at 66th, United at 68th and American at 77th—just below Ethiopian Airlines and above the Japanese low-cost carrier Peach.

See more
West Coast continues to dominate

By Patrick Burnson, Executive Editor · May 1, 2016 Writing to his cousin after a long illness, Mark Twain assured her that “the reports of my death have been greatly […]

With Spectra Energy Deal, Enbridge Seeks To Upstage Kinder Morgan

Enbridge Inc. is angling to be the must own pipeline stock in North America, supplanting struggling industry bellwether Kinder Morgan KMI +2.19%. That’s the takeaway from Enbridge’s $28 billion all-stock […]

Navistar Steps Off The Bankruptcy Brink With Volkswagen Partnership

Four years ago, many believed Navistar was headed towards an almost certain bankruptcy. The truck maker had squandered billions on a diesel engine that didn’t win the approval of the Environmental […]

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