In reaction to Spectra Energy Corp.'s (SE) decision to drop its US Transmission assets into Spectra Energy Partners (SEP), Sandell Asset Management's Chief Executive Officer Thomas Sandell sent a letter to Greg Ebel, Chief Executive Officer of Spectra Energy Corp.
The letter urges the firm to take further steps to unlock value including reviewing strategic alternatives for SE's Canadian operations (Westcoast Energy, Inc./WE) and DCP Midstream LLC. The strategic alternatives also include an IPO of WE.
Mr. Sandell also urged the firm to implement operational cost cuts across SE's entities that will reduce inefficiencies and boost profitability.
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