Spectra Energy Corp. (NYSE:SE) Investor Investigation Over Possible Breaches Of Fiduciary Duties Announced

If you purchased shares of Spectra Energy Corp. (NYSE:SE) and currently hold any of those NYSE:SE shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Spectra Energy
Affected Securities: 
NYSE: SE

September 13, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Spectra Energy Corp. (NYSE:SE), was announced concerning whether the takeover of Spectra Energy Corp. by Enbridge Inc for a value of approximately $40.33 per share is unfair to NYSE:SE stockholders.

The investigation by a law firm concerns whether certain officers and directors of Spectra Energy Corp. breached their fiduciary duties owed to NYSE:SE investors in connection with the proposed acquisition.

On September 6, 2016 Enbridge Inc. (TSX, NYSE:ENB) and Spectra Energy Corp. (NYSE:SE) announced that they have entered into a merger agreement under which Enbridge and Spectra Energy will combine in a stock-for-stock merger transaction, which values Spectra Energy common stock at approximately C$37 billion (US$28 billion), based on the closing price of Enbridge's common shares on September 2, 2016. Under the terms of the Transaction, Spectra Energy Corp. (NYSE:SE) shareholders will receive 0.984 shares of the combined company for each share of Spectra Energy common stock they own. The consideration to be received by Spectra Energy Corp. (NYSE:SE) shareholders is valued at US$40.33 per Spectra Energy share, based on the closing price of Enbridge common shares on September 2, 2016.

However, given that at least one analyst has set the high target price for NYSE:SE shares at $55.00 per share, the investigation concerns whether the offer is unfair to NYSE:SE stockholders. More specifically, the investigation concerns whether the Spectra Energy Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

On September 13, 2016, shares of Spectra Energy Corp. (NYSE:SE) closed at $41.52 per share.