, Columnist
A Really Exciting Pipeline Deal (We Promise)
It hints the industry has learned lessons after years of excess.
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I get it: Even with a $28 billion price tag appended to it, you find it hard to get excited about a pipeline merger. In thinking about Enbridge's acquisition of Spectra Energy, though, that actually makes sense. Being boring is a plus in pipelines these days.
The sector's had more than enough excitement already. Almost a year ago, another big deal was unveiled, Energy Transfer's $37 billion takeover of Williams Cos. That merger's descent into farce over the following nine months captured perfectly the unraveling of years of excess.