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Enbridge, Spectra forge timing agreement with FTC on merger closing

Enbridge Inc. and Spectra Energy Corp reached an agreement with the U.S. Federal Trade Commission that sets the timing of the closing of their merger after they have provided additional information requested of them.

Under the timing agreement, the merger would not be consummated before 45 days after Enbridge and Spectra comply with the FTC's request for additional documents related to the deal unless they are notified that the FTC has concluded its investigation, according to a Dec. 13 SEC filing.

Enbridge and Spectra also agreed not to certify compliance with the FTC's request before Jan. 10, 2017. The merger is expected to close in the first quarter of 2017.