Inter Pipeline has resisted the bid, instead signing a friendly all-stock deal to be bought by Pembina Pipeline Corp., that would see shareholders receive half a Pembina share for each Inter Pipeline share they hold. Toronto-based Brookfield Infrastructure, which is Inter Pipeline’s largest shareholder with a 9.75 per cent stake, launched its bid for Inter Pipeline in February. The proposal is up from its earlier bid of $19.50 in cash or 0.225 of a Brookfield Infrastructure share.
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