Enbridge Rewards Spectra Energy Partners With a Weak Buyout Offer

Ever since Enbridge (NYSE: ENB)purchased Spectra Energy early last year, Spectra Energy Partners (NYSE: SEP)has been the best-performing subsidiary in its portfolio -- and last quarter, it posted yet another set of solid results. For investors in Spectra Energy Partners, though, these strong earnings may be all for naught, as Enbridge is preparing to roll all of its subsidiaries up into the parent company in a way that may not be particularly beneficial to shareholders.