Pembina Pipeline to buy rival Inter Pipeline: Reuters

Pembina Pipeline Corp said it would buy rival Inter Pipeline in an all-stock C$8.3 billion deal to create one of Canada's top energy infrastructure companies, Reuters reported.

Pembina Pipeline Corp said it would buy rival Inter Pipeline in an all-stock C$8.3 billion deal to create one of Canada’s top energy infrastructure companies, Reuters reported. The deal comes nearly four months after Calgary-based Inter Pipeline launched a strategic review as it fended off a C$7.1 billion hostile takeover from Brookfield Infrastructure Partners. Including debt, Pembina’s deal is valued at about C$15.2 billion, with its shareholders expected to own 72 percent of the combined business.

Source: Reuters