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BIP - Inter Pipeline says Brookfield offer does not reflect true value
Brookfield Infrastructure Partners LP Limited Partnership Units
Inter Pipeline (IPPLF) says the unsolicited take-private proposals from Brookfield Infrastructure Partners (BIP) "did not reflect the intrinsic value of the company and were not sufficiently pre-emptive to grant Brookfield exclusivity."Brookfield offered C$16.50/share and said it was willing to raise its bid to as much as C$18.25 if Inter Pipeline provided access to due diligence.Inter Pipeline says Brookfield has not yet made a formal offer, and the company's board would review any offer and recommend whether shareholders should accept or reject it.