Stock price when the opinion was issued
Enbridge wants to buy ENF to simplify their corporate structure. In the States, Enbridge offered a small premium, while in Canada, they offered a premium. He suspects the directors of ENF-T are waiting for a higher premium (or that's what he would do). Pays a higher yield than Enbridge Inc. but lacks the dividend growth potential.
In response to a question about the impact of the Minnesota judge’s recommendation today of a route for its pipeline that Enbridge likes less: He doesn’t own Enbridge but he saw the news. He sees this as a temporary setback, doesn’t think this will have a material longer term effect on the price or the dividend. However, this might temporarily affect Canadian oil flows south.