(Bloomberg) Pembina Pipeline Corp. plans to make its final investment decision for the proposed Cedar LNG floating gas-export project in British Columbia within two weeks, according to people familiar with the matter. Most Read from BloombergHunter Biden Was Convicted. His Dad’s Reaction Was Remarkable.Apple to ‘Pay’ OpenAI for ChatGPT Through Distribution, Not CashUS Inflation Broadly Cools in Encouraging Sign for Fed OfficialsFed Officials Dial Back Rate Forecasts, Signal Just One ‘24 CutSt
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(Bloomberg) Pembina Pipeline Corp. agreed to acquire Inter Pipeline Ltd. for about C$8.3 billion ($6.9 billion) in an all-stock deal that will create one of the largest energy companies in Canada.The proposal from Pembina trumps a hostile takeover offer for Inter made by Brookfield Infrastructure Partners LP earlier this year. Inter spurned that approach and began a review of its options, which included a sale.The Pembina-Inter combination is the largest Canadian energy transaction in four years. The sector has been battered by low oil prices and regulatory uncertainty. President Joe Biden’s cancellation of TC Energy Corp.’s Keystone XL oil pipeline in January added to doubts over the long-term prospects of Canada’s oil industry.Buying Inter will give Pembina additional pipeline infrastructure across Western Canada, connecting the region’s oil sands and natural gas producers with domestic and foreign customers. Pembina will also take on Inter’s Hear
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