Enbridge dives as market frets over funding for $14 bln Dominion deal

📆 06-09-23 22:58:00
📰 Reuters

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Enbridge shares tumbled nearly 7% to an over four-year low on Wednesday, as some analysts questioned the financial impact of the Canadian pipeline operator's surprise $14 billion bid for three utilities from Dominion Energy .

in the three utilities Enbridge has offered to buy as the return rate would be too low.

Enbridge announced the deal just over a month after CEO Greg Ebel told analysts the company saw "tuck-in" acquisition opportunities "across the board". By late morning, Enbridge shares were down 5.5% at C$45.50, while the benchmark Canadian share index was off 0.5%. Rival TC Energy

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