ENBL - Energy Transfer buys Enable Midstream in $7.2B deal

Energy Transfer (ET) agrees to acquire Enable Midstream Partners (ENBL) in an all-equity transaction valued at ~$7.2B.Under the deal terms, Enable common unitholders will receive 0.8595 Energy Transfer common units for each Enable unit, an exchange ratio that represents an at-the-market transaction, based on the 10-day volume-weighted average price of ET and ENBL units on Feb. 12.Energy Transfer says the acquisition will increase its footprint across multiple regions and provide increased connectivity for its natural gas and NGL transportation businesses.Energy Transfer expects the combined company to generate more than $100M of annual run-rate cost and efficiency synergies, excluding potential financial and commercial synergies.Energy Transfer is a "deep value story" whose headwinds already are well represented in the stock price, Value Detection and Research writes in a bullish analysis posted recently on Seeking Alpha.

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Energy Transfer buys Enable Midstream in $7.2B deal