See the other thread. Prescient information as per the news release:
Under today's restructuring proposal:
-- ENF shareholders will receive 0.7029 common shares of Enbridge per ENF
share, representing a value of CAN$29.38 per ENF share, based on the
closing price of Enbridge common shares on the TSX on May 16, 2018,
reflecting a 5% premium to the closing price of ENF's common shares on
the TSX on May 16, 2018.
-- Enbridge believes that the proposed exchange ratio for ENF reflects an
attractive premium to its stand-alone value.
-- The proposed plan of arrangement transaction is subject to the approval
(i) by holders of 662/3% of the outstanding ENF shares present in person
or by proxy at a meeting of shareholders, and (ii) by holders of a
majority of the ENF shares present in person or by proxy at a meeting of
shareholders, other than Enbridge, its affiliates and other insiders.