Brookfield includes all-cash option in revised offer for Inter Pipeline – .

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Brookfield includes all-cash option in revised offer for Inter Pipeline – .


Brookfield Infrastructure Partners LP has revised its hostile takeover bid for Inter Pipeline Ltd. to give shareholders the option of receiving their full payment in cash, instead of a combination of cash and shares, if they so choose.

The company also says it is ready to increase its bid if it succeeds in challenging a $ 350 million severance fee that Inter Pipeline must pay if it cancels its friendly share purchase agreement by Pembina Pipeline Corp.

Brookfield Infrastructure says it is removing a cap of $ 5.56 billion on the amount of liquidity available under its proposal after what it says is comments from institutional and event investors.

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Inter Pipeline’s agreement with Pembina would allow shareholders to receive half a Pembina share for each Inter Pipeline share they own.

Brookfield Infrastructure offered $ 19.50 in cash or 0.225 Class A exchangeable share of Brookfield Infrastructure for each Inter Pipeline share.

He says he’s ready to increase the cash supply to 90 cents a share if he succeeds in his challenge of reducing or eliminating Pembina’s breakout fees.

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