Shareholders of Montana Alberta Tie Line owner Tonbridge approve Enbridge merger

Shareholders of Toronto-based Tonbridge Power Inc. (TSXV: TBX) have voted in favour of an acquisition by Calgary pipeline firm Enbridge Inc. Enbridge is planning to complete the construction of the Montana Alberta Tie Line, a 345-kilometre electrical power transmission line that would run from near Lethbridge, Alberta to a substation near Great Falls, Montana.

Toronto-based Tonbridge Power Inc. (TSXV: TBX) announced Monday its shareholders have voted in favour of an acquisition by Calgary pipeline firm Enbridge Inc.

Last month Tonbridge, which owns Montana Alberta Tie Ltd. (MATL), said its board of directors had agreed to the acquisition by Enbridge.

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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