(Bloomberg) Inter Pipeline Ltd. surged as Brookfield Infrastructure Partners LP made a hostile C$7.1 billion ($5.6 billion) offer following the failure of previous talks to produce a friendly deal.The bidder, an affiliate of Brookfield Asset Management Inc., said Wednesday it will offer C$16.50 per share in cash or stock and has amassed a 19.6% economic stake in Inter through shares and derivatives, making it the Calgary-based company’s largest investor.Inter Pipeline rose as much as 36% and was up 29% to C$17.30 as of 12:36 p.m. in Toronto.It’s not the first time that Inter Pipeline has attracted takeover interest. In 2019, the company said it received an unsolicited proposal. The Globe and Mail reported that Inter Pipeline had rebuffed a C$30-a-share offer from Li Ka-Shing’s CK Infrastructure Holdings Ltd.Brookfield said it first approached Inter Pipeline in September and subsequently made takeover proposals at a premium of as much as 50% to the company’
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TORONTO - Brookfield Asset Management Inc. raised its dividend as it reported a fourth-quarter profit of US$1.8 billion, up from US$1.6 billion a year e.
OTTAWA (dpa-AFX) - Brookfield Asset Management Inc. (BAM, BAM A.TO) on Thursday reported fourth-quarter net income of $1.82 billion or $0.40 per share, compared to net income of $1.64 billion