Sept 6 (Reuters) - Spectra Energy Corp (NYSE:SE) SE.N :
* Enbridge and Spectra energy to combine to create North America's premier energy infrastructure company with C$165 billion enterprise value
* Enbridge and Spectra Energy to combine to create North America's premier energy infrastructure company with c$165 billion enterprise value
* Spectra Energy shareholders will receive 0.984 shares of combined company for each share of Spectra Energy common stock they own
* Transaction was unanimously approved by boards of directors of both companies and is expected to close in q1 of 2017
* Deal for C$37 billion (US$28 billion)
* Upon completion of transaction, Enbridge shareholders are expected to own approximately 57 percent of combined company
* Consideration to be received by Spectra Energy shareholders is valued at US$40.33 per Spectra Energy share
* Combined company will be called Enbridge Inc
* Upon completion of transaction, Spectra Energy shareholders are expected to own approximately 43 percent of combined co
* Consideration to be received by spectra energy shareholders is valued at US$40.33 per Spectra Energy share
* Upon completion of transaction, Enbridge shareholders are expected to own approximately 57 percent of combined company
* Upon closing of transaction, Al Monaco will continue to serve as president and chief executive officer of combined company
* Greg Ebel will serve as non-executive chairman of Enbridge's board of directors
* Enbridge expects transaction to be neutral to its 12 percent to 14 percent secured ACFFO per share cagr guidance through 2014-2019
* Enbridge expects it will divest of approximately $2 billion of non-core assets over next 12 months to provide additional financial flexibility
* At closing, Enbridge Energy Partners, Lp and Spectra Energy Partners, Lp are expected to continue to be publicly traded partnerships
* Enbridge income fund holdings will remain a publicly traded corporation
* Transaction allows combined co to extend anticipated 10-12 percent annual dividend growth through 2024
* Combination expected to achieve annual run-rate synergies of C$540 million, majority of which should be achieved in latter part of 2018 Source text for Eikon: ID:nCCN6cm00J Further company coverage: SE.N