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Inter Pipeline evaluating revised Brookfield acquisition bid

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Institutional Shareholder Services, a prominent shareholder advisory firm, has recommended investors reject Pembina and instead support Brookfield\u0027s hostile…

Photo by Jason Franson/Bloomberg filesInter Pipeline Ltd. is evaluating a formal revised $8.6 billion offer from Brookfield Infrastructure Partners LP to buy Canada’s fourth-largest midstream company after rival suitor Pembina Pipeline Corp. said it wouldn’t raise its own bid for the company.Article content

Brookfield agreed last Thursday to lift the cash portion of its offer by 2.6 per cent to $20 for each Inter Pipeline share in a push to break up a friendly, all-share takeover by Pembina. On Friday, Pembina declined to increase or change its offer of 0.5 of its common shares for all the common shares of Inter Pipeline. Brookfield’s formal revised offer was filed Monday, Breanne Oliver, a spokeswoman for Inter Pipeline, said in an email.

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