NEW YORK, Sept. 9, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Spectra Energy Corp.
("SE" or the "Company") in connection with the proposed acquisition
of the Company by Enbridge Inc. ("Enbridge"). On September 6, 2016, the Company announced that it
had reached a definitive agreement for Enbridge to acquire all
outstanding shares of SE in an all-stock transaction valued at
approximately $28 billion.
Under the terms of the agreement, SE shareholders will receive
0.984 of a share of the newly combined company for each SE share
they own, representing consideration of $40.33 per share.
WeissLaw is investigating whether SE's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $55.00 per share, or nearly $15.00 above the offer price. Additionally,
upon completion of the transaction, Enbridge can expect annual
growth in dividends payments of 10%-12% through at least
2024.
Given these facts, WeissLaw is investigating the Board of
Directors' decision to sell SE and whether SE shareholders will
obtain their fair and proportionate share of the Company's
continued success and future growth prospects. If you own SE
shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP