IPPLF - Inter Pipeline nixes latest Brookfield takeover bid
spooh/E+ via Getty Images Inter Pipeline ([[IPPLF]]) rejects the revised takeover offer by Brookfield Infrastructure Partners ([[BIP]] +0.7%) that allows shareholders to receive their payment entirely in cash instead of a mixture of cash and shares. Brookfield's latest hostile offer gives shareholders the option to receive as much as 100% of its current offer of C$19.50/share in cash. The company reiterates its position that its deal with Pembina Pipeline ([[PBA]] +0.7%), in which shareholders would receive half a Pembina share for each Inter Pipeline share they own, provides better value. Pembina says it joined Inter Pipeline in filing cross-applications with the Alberta Securities Commission to remedy disclosure issues and "coercive tactics" by Brookfield and its affiliates. Pembina recently said volumes across its pipelines and facilities divisions have continued to grow steadily in 2021, exceeding pre-COVID levels.
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Inter Pipeline nixes latest Brookfield takeover bid