Enbridge Inc willing to grow through acquisitions – Financial Post

December 3, 2015

CALGARY – Enbridge Inc. has indicated a new willingness to grow by buying up firms with depressed share prices Thursday.

“We’re going to look at all of the aspects of potential merger and acquisition opportunities. Typically, we’ve been focused on organic growth,” Enbridge president and CEO Al Monaco said on a conference call Thursday to discuss the company’s financial targets for 2016.

Growth at Enbridge, Canada’s largest pipeline company, has historically come from building its own pipelines, but Monaco said the company is open to external opportunities. “For example, we’ve talked about increasing our natural gas footprint. That would be one element in the long-term we’d look at,” he said.

Share prices at pipeline companies in Canada and the U.S. have tumbled this year as the oil rout has persisted, which has led to analyst speculation that large midstream companies could buy up their smaller competitors.

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