Sign Up for FREE Daily Energy News
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • instagram
  • youtube2
Copper Tip Energy Services
Hazloc Heaters
WEC - Western Engineered Containment
Copper Tip Energy
WEC - Western Engineered Containment
Hazloc Heaters

Taking Another Look – Inter Pipeline Evaluates Brookfield’s Revised C$8.6 Billion Bid

English Français 简体中文
These translations are done via Google Translate
Jul 19, 2021
(Bloomberg) Inter Pipeline Ltd. is evaluating a formal revised C$8.6 billion ($6.7 billion) offer from Brookfield Infrastructure Partners LP to buy Canada’s fourth-largest midstream company after rival suitor Pembina Pipeline Corp. said it wouldn’t raise its own bid for the company.Brookfield agreed last Thursday to lift the cash portion of its offer by 2.6% to C$20 for each Inter Pipeline share in a push to break up a friendly, all-share takeover by Pembina. On Friday, Pembina declined to increase or change its offer of 0.5 of its common shares for all the common shares of Inter Pipeline. Brookfield’s formal revised offer was filed Monday, Breanne Oliver, a spokeswoman for Inter Pipeline, said in an email.“Inter Pipeline’s board has a fiduciary duty to review and consider all other offers for the business, including the revised offer from Brookfield, which is currently under review by Inter Pipeline’s Special Committee,” she said.

Techmation Electric & Controls Ltd.
Techmation Electric & Controls Ltd.

The Pembina deal was dealt a blow over the weekend when Institutional Shareholder Services Inc., a prominent shareholder advisory firm, recommended investors reject Pembina and instead support Brookfield’s hostile offer.

Inter Pipeline is now left to decide the next move in a takeover saga that started in February with an unsolicited C$7.1 billion offer by Brookfield Infrastructure that was rejected by Inter Pipeline’s board. Inter Pipeline announced an agreement with Pembina on June 1, and Brookfield has since revised its offer three times. Shareholders are scheduled to vote on the Pembina offer on July 29.

The fight over Inter Pipeline follows years of failed attempts to build major projects like TC Energy Corp.’s Keystone XL and Enbridge Inc.’s Energy East, which may have made existing lines more valuable. Inter Pipeline owns conduits across Western Canada, connecting oil and natural gas producers with domestic and foreign customers, as well as storage assets in Europe.

Share This:

More News Articles

New SHOWCASE Directory Companies


The Coverall Shop
Muddy Boots
Delta Remediation Inc.
Axis Communciations
Payload Technologies Inc.
Vista Projects Limited
Smart-Project Management Inc. / Trusted Pipeline Advisor