Inter Pipeline asks shareholders to reject Brookfield bid: Reuters

Inter Pipeline has asked shareholders to reject Brookfield Infrastructure Partners’ hostile bid, saying the offer “significantly undervalues” the Calgary-based oil and gas transportation company, reported Reuters.

Inter Pipeline has asked shareholders to reject Brookfield Infrastructure Partners’ hostile bid, saying the offer “significantly undervalues” the Calgary-based oil and gas transportation company, reported Reuters. The offer values Inter Pipeline at about C$7.08 billion ($5.62 billion). Brookfield said in February that it was willing to raise its offer if the company comes to the negotiating table, but Inter Pipeline turned it down and launched a strategic review of options.

Source: Reuters