- Brookfield Infrastructure Partners (BIP -0.1%) along with its institutional partners commenced its formal offer to acquire all of the outstanding shares of Inter Pipeline.
- Under offer terns, each IPL shareholder will have the ability to elect to receive, per IPL share, C$16.50 in cash or 0.206 of a Brookfield Infrastructure class A exchangeable share, subject to pro-ration.
- Offer is fully financed, with maximum cash consideration of ~C$4.9B (representing 76.2% of the total consideration) and maximum number of BIPC shares issued of ~19M (representing 23.8% of total consideration).
- Offer is open for acceptance till June 7, 2021.