Inter Pipeline has initiated a comprehensive review of strategic alternatives to maximize shareholder value, following the unsolicited takeover bid submitted by Brookfield Infrastructure Partners in early February.
The bid valued Inter Pipeline at C$7 billion ($5.5 billion), according to Reuters.
According to Reuters, Brookfield recently acquired a 19.65 percent economic interest in Inter Pipeline, making it the top shareholder in the company. Inter Pipeline previously received unsolicited, nonbinding and conditional proposals from Brookfield in the range of C$17.00 to C$18.25 ($13.47 to $14.46) per share.
In early February, following a comprehensive assessment of the conditional proposals, the company’s board stalled the bid, saying it did not reflect the intrinsic value of the company and was not sufficiently pre-emptive to grant Brookfield excl
