Duke Energy to Acquire Westcoast Energy for $13.3B

Duke Energy and Westcoast have entered into a combination agreement, under which Duke will acquire Westcoast pursuant to a corporate arrangement. The acquisition price is $13.3 billion, including assumed debt. The acquisition is expected to be completed in the spring of 2002, after shareholder, court and regulatory approvals have been obtained.

Westcoast Energy received legal counsel from Westcoast's in-house counsel David Unruh, senior vice-president, law and corporate secretary, and Kelly Stark-Anderson, senior solicitor, together with Torys'Peter Jewett, Phil Symmonds, Aaron Emes, Ryan Barry and Andy Beck, with respect to Canadian and U.S. legal matters. Herb Dodd and George Macintosh, Q.C., of Farris, Vaughan, Wills & Murphy provided advice to Westcoast with respect to British Columbia legal and regulatory matters. Vinson & Elkins LLP's Bruce Bilger, Jeff Floyd, Henry May, Ed Osterberg, Adam Wenner, Brian Bloom, Paul Yde, Tom Wilson and Larry Nettles, working with Duke Energy's in-house counsel Martha Wryrsch, Richard McGee, Rod Gerik, Wayne Wiesen, Bob Lucas and Brent Backes provided legal counsel to Duke Energy. Stikeman Elliott, with a team including Mihkel Voore, Jonathan Drance, Don Belovich, John Anderson, Phil Griffin, Ron Durand and Dean Kraus (tax), David Holgate and David Brown (regulatory), Hein Poulus (litigation) and Lawson Hunter and Sandra Walker (competition) assisted Duke Energy on Canadian legal matters.


Bruce Bilger Aaron S. Emes Edward C. Osterberg, Jr. Peter E.S. Jewett Andrew J. Beck John F. Anderson David M. Brown Sandra L. Walker Jonathan S. Drance Philip D.A. Symmonds David A. Holgate Jeffery Burton Floyd Thomas H. Wilson Dean Kraus George K. Macintosh Henry S. May, Jr. Brian Robert Bloom Phillip G. Griffin Ron Durand Larry W. Nettles Mihkel E. Voore Ryan E. Barry Hein Poulus Herbert D. Dodd Donald G. Belovich


Torys LLP FARRIS Vinson & Elkins LLP Stikeman Elliott LLP