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Enbridge Nears $2B Deal for Tallgrass Pipeline

Bloomberg Markets •
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Enbridge Inc., the Canadian energy infrastructure giant, is in advanced talks to acquire a major crude oil pipeline in the US from Blackstone Inc.'s Tallgrass Energy for approximately $2 billion, according to people familiar with the matter.

A deal for the Pony Express Pipeline could be announced in the coming days, the sources said, asking not to be identified because the information isn't public. No final decision has been made, and discussions could still fall through or the timing could change.

The potential acquisition would mark a significant expansion for Enbridge in the US midstream sector. The Pony Express Pipeline is a key piece of infrastructure for moving crude from the Rocky Mountains to the Cushing, Oklahoma hub.