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Brookfield Infrastructure (NYSE:BIP)(NYSE:BIPC) isn t letting another potential suitor get in the way of its quest to acquire Canadian oil infrastructure company
Inter Pipeline (TSX:IPL). One day after its target agreed to merge with rival Canadian midstream company
Pembina Pipeline (NYSE:PBA), Brookfield Infrastructure launched a revised offer for Inter Pipeline.
Inter Pipeline continues to support Pembina deal after improved Brookfield offer
Inter Pipeline s Heartland Petrochemical Complex in Fort Saskatchewan, Alta. is shown in an undated handout photo. The board of directors at Inter Pipeline Ltd. says it still supports a takeover deal the company signed with Pembina Pipeline Corp., despite an increased offer from Brookfield Infrastructure Partners.THE CANADIAN PRESS/HO, Inter Pipeline MANDATORY CREDIT June 03, 2021 - 5:38 AM
CALGARY - The board of directors at Inter Pipeline Ltd. says it still supports a takeover deal the company signed with Pembina Pipeline Corp., despite an increased offer from Brookfield Infrastructure Partners.
Brookfield Infrastructure Partners LP is raising its hostile takeover offer for Inter Pipeline Ltd. to top a friendly deal the company struck to be acquired by Pembina Pipeline Corp. Brookfield Infrastructure says its offer is valued at $19.75 per Inter Pipeline share including 74 per cent in cash and 26 per cent in shares. Inter […]
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CALGARY After previous failed attempts, Pembina Pipeline Corp. has a deal in place to buy rival Inter Pipeline Ltd. that tops a hostile bid from Brookfield Infrastructure Partners.
“I’ve been thinking about this for 10 years. This is my third try,” Pembina president and CEO Mick Dilger said on a Tuesday conference call announcing the all-share deal, which values Calgary-based Inter Pipeline’s equity at $8.3 billion. Dilger said he last attempted to buy Inter Pipeline roughly eight years ago but wasn’t successful. This attempt, he said, is “third time lucky.”
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