BIP - Brookfield reiterates commitment to Inter Pipeline offer

Brookfield Infrastructure Partners ([[BIP]] +1.3%) says it remains committed to its existing C$7.1B (US$5.65B) hostile takeover offer for Inter Pipeline ([[IPPLF]] +1.9%) and welcomes efforts to market-test its offer against other take-private proposals."Any ability for Brookfield Infrastructure to increase the offer would be predicated on completing customary confirmatory due diligence that supports such an increase," says the would-be acquirer.Inter Pipeline earlier this week recommended shareholders reject the offer, saying it "significantly undervalues" the company.An improved offer by Brookfield "would change the nature of the conversation," Inter Pipeline CEO Chris Bayle tells Bloomberg, adding that the disagreement is "solely about value."Brookfield last month launched a hostile bid with the same C$16.50/share offer but said it could consider increasing its offer if it is granted access to due diligence.

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Brookfield reiterates commitment to Inter Pipeline offer