Spectra Energy, which is seeking to build the Nexus Pipeline in Ohio, is being bought in a mega-billion dollar deal. USA Today reports:
"Canadian pipeline company Enbridge Inc., said Monday it would acquire Houston-based Spectra Energy in a $28 billion all-stock deal.
"The merger would create North America's largest energy infrastructure company, valued at $127 billion, when it is completed in the first quarter of 2017, the companies said.
"Spectra is one of the backers the planned Nexus Pipeline, in partnership with Michigan-based DTE Energy. The $2 billion, 250-mile pipeline would carry natural gas from Ohio’s Utica Shale westward across Northern Ohio to Defiance and north to Detroit and Ontario, where it would connect with existing pipelines."
Read the full story here.