Spectra Energy Partners, LP Unitholder Consent Solicitation Period to Expire on
December 12, 2018
HOUSTON, TEXAS, December 6, 2018
Spectra Energy Partners, LP (NYSE: SEP) (SEP) today announced that the period
for unitholders of SEP to return their written consents with respect to the merger (the Merger) of SEP and a wholly owned subsidiary of Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) will expire on December 12, 2018.
The Merger will be effected pursuant to an Agreement and Plan of Merger dated as of August 24, 2018 (the Merger Agreement) and will result in Enbridge
(through a wholly owned subsidiary) acquiring all of the outstanding public common units of SEP and SEP becoming an indirect, wholly owned subsidiary of Enbridge. Pursuant to the Merger Agreement, at the closing, each public common unit of SEP will
be exchanged for 1.111 common shares of Enbridge.
The Board of Directors of the general partner of SEP recommends that SEP unitholders approve the Merger
and the Merger Agreement. In addition, Institutional Shareholder Services Inc. (ISS), a leading independent proxy advisory firm, has also recommended that SEP unitholders approve the Merger and the Merger Agreement.
SEP unitholders of record as of the close of business on November 5, 2018, are entitled to execute and deliver to SEP a written consent with respect to
the Merger and the Merger Agreement. SEP encourages its unitholders to return their written consents as soon as possible but no later than 11:59 p.m. (Eastern Time) on December 12, 2018. Copies of the consent solicitation statement/prospectus
related to the transaction and related documents are available on EDGAR at www.sec.gov.
Unitholders who have questions or require assistance in
submitting their written consents may direct their inquiry to the proxy solicitation agent, D.F. King & Co., Inc., by calling toll free in North America at (888)
777-0320
or by email at
enbridge@dfking.com.
The transaction is expected to close December 17, 2018, pursuant to the terms of the Merger Agreement.
FORWARD-LOOKING INFORMATION
This news release
includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based on the beliefs and assumptions of
Enbridge, Enbridge Energy Partners, L.P. (EEP), Enbridge Energy Management, L.L.C. (EEQ), SEP, and Enbridge Income Fund Holdings Inc. (ENF and, together with EEP, EEQ and SEP, the Sponsored Vehicles).
These forward-looking statements are identified by terms and phrases such as: anticipate, believe, intend, estimate, expect, continue, should, could, may, plan, project, predict, will, potential, forecast and similar expressions and include, but are
not limited to, statements regarding the expected closing, consummation, completion, timing and benefits of the acquisitions of the Sponsored Vehicles (collectively, the Proposed Transactions), the expected synergies and equityholder
value to result from the combined companies, the expected levels of cash distributions or dividends by the Sponsored Vehicles to their respective shareholders or unitholders, the expected levels of dividends by Enbridge to its shareholders, the
expected financial results of Enbridge and its Sponsored Vehicles and their respective affiliates, and the future credit ratings, financial condition and business strategy of Enbridge, its Sponsored Vehicles and their respective affiliates.
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