Pembina don't be an idiot....Being a Pembina shareholder I was kinda upset that they bid for Interpipeline. There is still a lot of execution risk in their project and it is fully valued in my opinion. If they would never have made the bid the stock would likely be in the $44 to $49 range by now instead of $39.
Now I pray that they do not up their bid. Let Brookfield take Interpipeline if it is able to and take the break up fee. Brookfield will cut up the business so their will be pieces to buy at a discount down the road.
Overpaying for something is the worst way to treat shareholders so I hope they do not do this.