A look at the five biggest foreign takeovers by Canadian companies
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, N.L., announces it’s buying independent U.S. transmission utility ITC Holding Corp. for US$11.3 billion. The deal is expected to close later this year.