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Brookfield Infrastructure Partners (TSX:BIP.UN) commences offer to acquire Inter Pipeline Ltd.
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  • Brookfield Infrastructure Partners LP (BIP.UN) commences its formal offer to acquire all of the outstanding common shares of Inter Pipeline Ltd (IPL)
  • Each IPL shareholder would receive C$16.50 or 0.206 of a Brookfield Infrastructure Corporation Class A share (BIPC)
  • The offer has a maximum cash consideration of C$4.9 billion and a maximum aggregate number of BIPC shares issued of 19 million
  • The offer is open for acceptance until 5:00 pm (Mountain Standard Time) on Monday, June 7, 2021
  • Brookfield Infrastructure Partners LP is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager
  • Brookfield Infrastructure Partners LP (BIP.UN) is down 0.15 per cent and is currently trading at C$66.97 per share

Brookfield Infrastructure Partners LP (BIP.UN) commences its formal offer to acquire all of the outstanding common shares of Inter Pipeline Ltd. (IPL). 

The offer will be mailed to all IPL shareholders upon receipt of the list of holders of common shares previously requested by Brookfield Infrastructure.

Under the terms of the offer, each IPL shareholder will have the ability to receive, per IPL share, C$16.50 or 0.206 of a Brookfield Infrastructure Corporation Class A share (BIPC). IPL shareholders may also choose to receive cash for some of their IPL shares and BIPC shares for their remaining IPL shares.

The share exchange ratio has been calculated based on the closing price of BIPC shares on February 10, 2021.

The offer is fully financed, with a maximum cash consideration of approximately C$4.9 billion and a maximum aggregate number of issued BIPC shares of approximately 19 million. It's open for acceptance until 5:00 pm (Mountain Standard Time) on Monday, June 7, 2021.

Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across North and South America, Asia Pacific and Europe. 

Brookfield Infrastructure Partners LP is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with approximately US$600 billion of assets under management.

Brookfield Infrastructure Partners LP (BIP.UN) is down 0.15 per cent and is currently trading at C$66.97 per share as of 2:31 pm EST.

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