OTCPK:ICPVF - Post by User
Comment by
Oldfart74on Aug 21, 2021 6:54pm
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Post# 33745475
RE:RE:Brookfield acquires 65.6% of IPL on Takeover Bid
RE:RE:Brookfield acquires 65.6% of IPL on Takeover Bidfishowl wrote:
The link press release mentions '
IPL shareholders that have already tendered do not need to take any further action and should expect payment within three business days'. Is this 3 business days as of August 20th? - Brookfield Infrastructure has exceeded the modified statutory minimum condition and is filing a mandatory extension of the Offer to September 3rd to provide remaining Inter Pipeline Ltd. (“IPL”) shareholders time to tender
- Upon the take up and payment of the Tendered Shares, Brookfield Infrastructure will own 68.9% of the outstanding common shares of IPL and, following the mandatory extension period, intends to pursue a privatization of IPL
- IPL shareholders that have already tendered do not need to take any further action and should expect payment within three business days
The press release is confusing. If Brookfield is just counting the shares they owned prior to the Takeover Bid (not including Swap shares), they would have only had approximately 58.9% tendered to their bid. The headline stated 65.6% were taken up.