GREY:EBGUF - Post by User
Comment by
pierrelebelon Aug 29, 2018 11:36am
159 Views
Post# 28535852
RE:New Counter offer !
RE:New Counter offer !
According to CIBC latest research (August 27, 2018):
"The question becomes whether ENB will raise its offers for the other
sponsored vehicles. As the increased offer reflects the unique impact
of the FERC modifications on SEP, we do not believe there is the
same impetus for an increase to the other vehicles. EEP, in
particular, still has about US$140MM of negative revenue
consequences from FERC actions. ENF is only impacted by the FERC
actions to the extent it impacts the International Joint Tariff shared
with EEP, but has the more complex corporate structure. ENB could
also decide to leave any vehicle public if it cannot achieve a
satisfactory outcome. It is hard to see ENF and EEP as better off as
stand-alone vehicles in the current environment, and the proposed
transactions are already neutral to guidance. That being said, each
process is distinct and separate, with different boards and
committees."
Considering ENF is currently trading at a premium over conversion value, I sold my ENF shares and will purchase ENB shares with the proceeds.