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A shiny toy : The Alberta petrochemical complex at the heart of Brookfield s Inter Pipeline bid

A shiny toy : The Alberta petrochemical complex at the heart of Brookfield s Inter Pipeline bid 2/24/2021 Inter Pipeline Ltd s ambitious petrochemical plant was meant to unlock new markets, instead it has left the Canadian company battling cost overruns and vulnerable to a hostile $5.64 billion takeover from Brookfield Infrastructure Partners. Some investors have ruled out a rival bid to Monday s offer for the oil and gas transportation company, and expect Brookfield to snap up Inter just before its newest asset, the Heartland Petrochemical Complex, comes into service. The C$4 billion Heartland plant near Edmonton, Alberta, is Inter s first petrochemical project and its largest ever capital investment. It is due for completion early next year, several months behind schedule and C$500 million over budget as a result of the COVID-19 pandemic.

Brookfield formally launches hostile bid to buy Canada s Inter pipeline

By Reuters Staff 2 Min Read Feb 22 (Reuters) - Brookfield Infrastructure Partners said on Monday it formally launched its hostile bid to buy Inter Pipeline Ltd, weeks after the Canadian oil and gas transportation company rejected its unsolicited offer as inadequate. Brookfield, which acquires and manages infrastructure assets, is offering C$16.50 per share for Inter, valuing Inter at C$7.08 billion ($5.62 billion). Earlier this month, Brookfield said it was willing to raise its offer to as much as C$18.25 per Inter share if the company had come to the negotiating table, but Inter turned it down and later launched a strategic review of options.

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