RE:IPL opening price tomorrow It should trade over the $16.50 offer. The following is from Reuters....
Brookfield, which owns and operates assets in the utilities, transport and storage sectors, said it has acquired 19.65% economic interest in Inter Pipeline, to become the top shareholder in the Calgary-based company.
The infrastructure firm offered C$16.50 per share for Inter Pipeline, a 23.13% premium Wednesday’s close, valuing the company’s equity at C$7.08 billion. Including debt, the deal is valued at about C$13.5 billion.
Brookfield said it is willing to sweeten its offer to between C$17 and $18.25 a share if it is granted access to due diligence.
Brookfield said it started amassing Inter Pipeline shares in March 2020 and first approached the company to discuss a deal in September, but discussions stalled as the two companies had markedly different views of Inter Pipeline’s value.