OTCPK:ICPVF - Post by User
Comment by
Oldfart74on Jul 12, 2021 5:00pm
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Post# 33532436
RE:RE:RE:RE:RE:RE:RE:RE:the break fee will be deemed to have violated law
RE:RE:RE:RE:RE:RE:RE:RE:the break fee will be deemed to have violated lawbttmfischer wrote: "Brookfield received confidential information" by whom? ...""and asked for its "best bid", again by whom"" ? Did Brookfield make that "best bid" known in its published offer to IPL shareholders?
Or was that as tacit as the "Agreement" between Bf and BMO, not to vote using the shares they accumulated because of some Divine Guidance in 2020?
It would be interesting to find out if the broker division of BMO had IPL shares on the "strong buy"
list in April-June 2020, that prompted that massive buying campaign.
This an extract from IPL press released June 10: "Following receipt of confidential information, Brookfield and all other interested parties were provided multiple opportunities to put forward an offer that would be compelling for Shareholders and that would receive Inter Pipeline Board support.
Brookfield was notified on May 31, 2021, that Inter Pipeline was prepared to accept a competing en bloc proposal with market standard deal protection provisions, including a "break fee". Brookfield's response to this notification was to deliver a further revised proposal that, in the view of the Special Committee, was still inferior to the Pembina Arrangement."