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Actionable news in SE: SPECTRA ENERGY Corp,

Enbridge, Spectra Merge in North American Energy Infrastructure Combo

Canada's Enbridge and Houston-based Spectra Energy (SE) said on Tuesday they would merge to form a C$165 billion ($127.9 billion) entity which will be North America's largest energy infrastructure company.

Enbridge owners will hold 57% of the enlarged group, and Spectra Energy investors will hold 43% after shareholders in the junior merger partner are offered 0.984 of a share in the combined company for each share they own.

The companies said the deal values...