Enbridge Inc., a Canadian energy infrastructure giant, has agreed to acquire Tallgrass Energy's crude oil business from Blackstone Inc. for approximately $2.6 billion. The deal includes a 75% stake in the Pony Express Pipeline, a 51% interest in the Powder River Gateway system, and 8.4 million barrels of storage capacity. This acquisition strengthens Enbridge's midstream footprint in the U.S. and aligns with its strategy to expand crude transportation and storage assets.

The transaction is expected to close in 2026, subject to regulatory approvals. Financial details and strategic rationale were outlined in a statement released on Wednesday. The move underscores Enbridge's commitment to growing its presence in key energy corridors.