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Enbridge To Acquire All Public Equity Of Enbridge Energy Partners

Enbridge Inc. (ENB.TO,ENB), Enbridge Energy Partners, L.P. (EEP) and Enbridge Energy Management, L.L.C. (EEQ) announced separate definitive agreements under which Enbridge Inc. will acquire all of the outstanding public class A common units of Enbridge Energy Partners, L.P. and all of the outstanding public Listed Shares of Enbridge Energy Management, L.L.C. The acquired equity of the combined transactions is valued at $3.5 billion.

Enbridge Energy Partners, L.P. public unitholders will receive 0.3350 common shares of Enbridge for each class A common unit of EEP. Enbridge Energy Management, L.L.C. public shareholders will receive 0.3350 common shares of Enbridge for each Listed share of EEQ.

Separately, Enbridge Inc. and Enbridge Income Fund Holdings Inc. (ENF.TO, ENF) announced that they have entered into a definitive arrangement agreement under which Enbridge will acquire all of the issued and outstanding public common shares of Enbridge Income Fund Holdings. Each common share of Enbridge Income Fund will be exchanged for 0.7350 of a common share of Enbridge and cash of $0.45 per ENF share. Enbridge Income Fund shareholders will also be entitled to receive the Enbridge fourth quarter dividend. The total transaction is valued at $4.7 billion.

Enbridge Inc. noted that the announced agreements, in conjunction with the previously announced Spectra Energy Partners, LP (SEP) transaction on August 24, 2018, represent the achievement of significant milestones in the simplification of Enbridge's corporate structure.

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