Inter Pipeline to Boost Natural Gas Processing as Heartland Complex Set for Commissioning naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.
Pembina Bets on Growth Through CCUS, LNG and Pipeline Partnerships naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.
Inter Pipeline Scuttles Pembina Merger, Accepts $6.9B Brookfield Takeover Bid Share on: LinkedIn Toronto-based Brookfield Infrastructure Partners LP won a prolonged takeover contest for Inter Pipeline Ltd. (IPL) in Calgary today after adding an all-cash option to its bid for shareholder support and raising the total offer to about C$8.6 billion ($6.9 billion). At a cost of a deal-breaking penalty of C$350 million ($280 million), IPL canceled a May agreement to combine with Calgary peer Pembina Pipeline Corp. Brookfield beat a Pembina all-stock bid valued at about C$8.3 billion ($6.6 billion). IPL said its next steps will be “engaging with Brookfield in an effort to reach a mutually agreeable transaction in the best interests of shareholders,” then a recommendation for a deal from its board of directors.
Article content 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.” We apologize, but this video has failed to load.