The five biggest foreign takeovers by Canadian companies
Enbridge's $28 billion acquisition of Spectra Energy tops the list.
Oil & Gas
CALGARY — Enbridge Inc. has struck a deal to acquire Houston-based Spectra Energy in a friendly, all-stock deal worth US$28 billion in what would be the largest foreign takeover by a Canadian company.
Here’s a look at how it stacks up to the next five biggest Canadian acquisitions of foreign firms:
March 2016: TransCanada Corp. of Calgary announces it’s buying Houston-based Columbia Pipeline Group in a US$13 billion deal, including US$2.8 billion in liabilities.
June 2015: A division of the Canada Pension Plan Investment Board buys GE Antares Capital from General Electric Co. for an estimated US$12 billion.
February 2016: Fortis, headquartered in St. John’s, NL, announces it’s buying independent US transmission utility ITC Holding Corp. for US$11.3 billion. The deal is expected to close later this year.
September 2003: Manulife Financial Corp. acquires John Hancock Financial Services in an all-stock deal worth US$11.1 billion.
September 2015: Halifax-based utility company Emera announces it’s buying Florida-based TECO Energy for US$10.4 billion in cash and shares, including US$3.9 billion in liabilities.