(Calgary) Enbridge closed a $4.6 billion stock offering the company announced as part of its deal to acquire three U.S. natural gas utilities earlier this week.
The company said it issued 102,913,500 shares under the plan, which allowed the underwriters to exercise the full over-allotment option.
The offering price under the bought deal financing was $44.70 per share.
Enbridge indicated that exercising the over-allotment option further reduced and de-risked its financing requirements to fund acquisitions.
The Calgary-based company has signed an agreement to acquire East Ohio Gas Company, Questar Gas Company and its related Wexpro companies, and Public Service Company of North Carolina, all of which are owned by Virginia-based Dominion Energy.
It agreed to pay US9.4 billion in cash and assume US4.6 billion in debt.
