Enbridge Income Fund Holdings Inc. EBGUF

Counter offer? $34.00

[stocktalk]

Yes, at  $ 34.00 iam out !

[Sapho]

I don't beleive there will be a counter offer. I believe it is what it is. ENB is parent company of ENF. 

[soundandfury]

i disagree.......does a parent have the right to buy the sons house below market value......i dont think so

[rk67]

And secondly, if the parent tells ENF what to do, then the parent has told ENF to tell shareholders that the dividend is safe -- so ENB would have caused ENF to lie. Yeah -- I'll be investing in ENB in that case... NOT!

[Sapho]

I hope so. I have lots of shares and I will be happy even with even 32 and will sell. 

[stocktalk]

Worst case scenario there is still good value with the parent and a solid history of an uncut dividend.

[semiRet4ever]

I think if one is looking at counter offers rather than a dollar amount it should be in share ratio, .7029 ENB /ENF is the offer which seems low, I'd prefer .8ENB/ENF, perhaps .75 is fair to all... time will tell

[chigs1975]

There will be no counter offers. ENB gets to vote and they own 82% of ENF shares. 

[semiRet4ever]

Counter is still possible, as ENB ownership appears to have a limit on its control of ENF... note the highlighted section below From a TD Waterhouse report  :  The proposed transaction is subject to approval by 66.67% of the outstanding ENF shareholders and by a majority of the public shareholders excluding ENB, its affiliates, or insiders

[rk67]

The press release states: The proposed plan of arrangement transaction is subject to the approval (i) by holders of 66% of the outstanding ENF shares present in person or by proxy at a meeting of shareholders, and (ii) by holders of a majority of the ENF shares present in person or by proxy at a meeting of shareholders, other than Enbridge, its affiliates and other insiders To me, this