NEW YORK, Sept. 9, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Spectra Energy Corp. ("SE" or the "Company") in connection with the proposed acquisition of the Company by Enbridge Inc. ("Enbridge"). On September 6, 2016, the Company announced that it had reached a definitive agreement for Enbridge to acquire all outstanding shares of SE in an all-stock transaction valued at approximately $28 billion. Under the terms of the agreement, SE shareholders will receive 0.984 of a share of the newly combined company for each SE share they own, representing consideration of $40.33 per share.
WeissLaw is investigating whether SE's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $55.00 per share, or nearly $15.00 above the offer price. Additionally, upon completion of the transaction, Enbridge can expect annual growth in dividends payments of 10%-12% through at least 2024.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell SE and whether SE shareholders will obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own SE shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at email@example.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP