Brookfield formerly launches bid to buy Inter Pipeline: Reuters

Brookfield Infrastructure Partners has formally launched a hostile bid to buy Inter Pipeline with the same C$16.50-per-share offer that the Calgary-based oil and gas transportation company rejected as inadequate weeks ago, reported Reuters.

Brookfield Infrastructure Partners has formally launched a hostile bid to buy Inter Pipeline with the same C$16.50-per-share offer that the Calgary-based oil and gas transportation company rejected as inadequate weeks ago, reported Reuters. The current offer from Brookfield values the business at C$7.08 billion ($5.62 billion). Inter Pipeline said that its special committee is reviewing the proposal and will make a recommendation within 15 days.

Source: Reuters