News Formal

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

  • 📰 Reuters
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

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

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves premarket: Enbridge, Roku, Gitlab and moreThese are the companies making headlines in premarket trading on Wednesday.
Source: nbcchicago - 🏆 545. / 51 Read more »