Brookfield increases bid to acquire Inter Pipeline: Reuters

Brookfield Infrastructure Partners has raised its hostile bid to buy Inter Pipeline to C$8.48 billion ($7.02 billion), topping Pembina Pipeline Corp’s C$8.3 billion offer to buy the Calgary-based oil and gas transportation company, Reuters reported.

Brookfield Infrastructure Partners has raised its hostile bid to buy Inter Pipeline to C$8.48 billion ($7.02 billion), topping Pembina Pipeline Corp’s C$8.3 billion offer to buy the Calgary-based oil and gas transportation company, Reuters reported. Brookfield, Inter Pipeline’s largest shareholder, said it was “disappointed by the seeming lack of fiduciary responsibility shown by the decision of IPL Board of Directors to support an inferior proposal by Pembina.”

Source: Reuters