Enbridge Income Fund Holdings Inc. EBGUF

RE:RE:The ratio was set at .7029

[soundandfury]

pjn0987654321 wrote:

Well, they call it a 5% premium, and by a remarkable coincidence, the share price went up about 5%, yet you say there is no premium. 

"ENF shareholders will receive 0.7029 common shares of Enbridge per ENF share, representing a value of CAN$29.38 per ENF share, based on the closing price of Enbridge common shares on the TSX on May 16, 2018, reflecting a 5% premium to the closing price of ENF's common shares on the TSX on May 16, 2018."

soundandfury wrote: That is the conversion ratio .......may 16 close price was just used as an example........nothing more......there is no premium.

there is no cash value assigned too the ratio........the fact that the ratio gave a small premium to enf closeing price on may 16 means nothing........its the ratio that matters and that does not change no matter what the share price of enb is..........they never offered 29.38 for enf.......the value of enf is now pegged too enb price.....by the ratio