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Brookfield Infrastructure to acquire Enercare in $4.3B deal

The Enercare Inc. logo is shown in a handout. Enercare Inc. of Markham, Ont., to be acquired by Brookfield Infrastructure in friendly deal valued at $4.3 billion. Enercare shareholders to get equivalent of $29 per share in cash or equity. THE CANADIAN PRESS/HO

TORONTO – Brookfield Infrastructure Partners has made a $4.3-billion friendly takeover offer for Enercare Inc. of Markham, Ont., which provides a variety of home services such as electricity, water heaters, furnaces and air conditioners.

Enercare’s board unanimously supports the Brookfield Infrastructure offer, which is worth the equivalent of $29 per share in cash or equity.

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That’s 53 per cent above Enercare’s stock price at the end of trading Tuesday, when the shares closed at $18.91.

The total deal value includes about US$630 million of debt that Brookfield Infrastructure would assume.

Brookfield Infrastructure is a publicly traded member of the Toronto-based Brookfield group of companies.

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It owns and operates utility, transport, energy and other infrastucture businesses around the world.

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