September 27, 2011
Shareholders of Montana Alberta Tie Line owner Tonbridge approve Enbridge merger
Toronto-based Tonbridge Power Inc. (TSXV: TBX) announced Monday its shareholders have voted in favour of an acquisition by Calgary pipeline firm Enbridge Inc.
At the time, Enbridge was planning to complete the construction of MATL, a 345-kilometre electrical power transmission line that would run from near Lethbridge, Alberta to a substation near Great Falls, Montana. MATL had halted work in June due to a dispute with Rocky Mountain Contractors.
When the merger was first announced in August the firms said it was subject to, among other things, court approval and ratification by two-thirds of Tonbridge shareholders. On Monday, Tonbridge said more than 99 per cent of votes cast at a special meeting of shareholders were in favour of the acquisition by Enbridge.
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