STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - U.S.-listed shares of Enbridge Inc tumbled nearly 7% in premarket trading on Wednesday after the Canadian pipeline operator announced a surprise $14 billion bid to buy three utilities from Dominion Energy.
The move to acquire East Ohio Gas, Questar Gas, and Public Service Co of North Carolina will make Enbridge the largest gas utility by volume in North America, with the unit accounting for a bit less than a fourth of the company's overall business mix.
J.P.Morgan analysts, however, said that although the deal would enhance Enbridge's business profile over time, the market had a lot to digest in the near-term and that was likely driving share price volatility.
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