• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • BOE Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Brookfield says committed to hostile Inter Pipeline takeover

March 11, 20217:50 AM Reuters0 Comments

Investment firm Brookfield Infrastructure Partners said on Thursday it is committed to its C$7.1 billion ($5.65 billion) hostile takeover offer for Inter Pipeline Ltd despite the pipeline company’s board turning down the bid.

The largest individual shareholder in Inter Pipeline said it welcomes the board’s “efforts to market test the offer against other take-private proposals”, adding that its offer is in the best interest of the Canadian company’s shareholders.

Inter Pipeline on Tuesday asked its shareholders to reject the offer, saying it “significantly undervalues” the oil and gas transportation company.

Brookfield last month launched a hostile bid with the same C$16.50 per share offer that Inter Pipeline had previously rejected as inadequate.

The investment company had also said it was willing to raise its offer to as much as C$18.25 per share if the pipeline company comes to the negotiating table, but Inter turned it down and later launched a strategic review of options, which could include a “corporate transaction.”

Inter Pipeline, which expects a superior offer or other alternatives to emerge, also previously said it is looking for a partner for its C$4 billion Heartland Petrochemical Complex in Alberta that is due to start operating early next year. 29dk2902l

Inter Pipeline

Follow BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Saturn Oil & Gas Inc. announces closing of $125 million bought deal offering
  • Oil slips on rate hike worries, Russian crude flows despite China performance
  • ExxonMobil Central Alberta Opportunities
  • Smart technology plays key role in critical downhole decisions
  • Fee Simple Title Offering: Countess of Sutherland Estate

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    BOE Network
    © 2023 Stack Technologies Ltd.