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Pembina Pipeline agrees deal to acquire Canada's Inter Pipeline

Pembina Pipeline agrees deal to acquire Canada’s Inter Pipeline
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17 mins ago
Pembina Pipeline has agreed to acquire Inter Pipeline in an all-stock deal worth around $6.9bn (C$8.3bn).
As per the deal terms, Inter Pipeline shareholders will receive half a share in the Pembina Pipeline for each share held. Inter Pipeline’s shares are currently valued at $16.1 (C$19.45).
The deal is valued at around $12.58bn (C$15.2bn), including Inter Pipeline’s debt.
Pembina Pipeline expects the deal to create one of top oil and gas transportation companies in Canada.
Upon completion of the transaction, Pembina Pipeline’s shareholders will own a 72% stake in the combined firm. Inter Pipeline shareholders will own the remaining 28% stake. ....

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Brookfield Infrastructure Reports Record First Quarter Results as FFO Increases 20%

0.77
Brookfield reported net income for the three-month period ended March 31, 2021 of $190 million ($0.27 per unit) compared to $119 million ($0.13 per unit) in the prior year. Net income per unit more than doubled, reflecting strong organic growth and contributions from recently completed acquisitions. Current year results also benefited from favorable commodity markets and the recognition of a gain on the partial disposition of our U.S. gas pipeline. These positive factors were partially offset by lower unrealized gains recognized on our corporate hedging program relative to the prior year.
Funds from Operations (or FFO) of $431 million for the quarter increased by 20% over the same period last year as a result of strong base business growth and the contribution from new investments acquired in 2020. FFO grew organically by 8% due to inflationary tariff increases, modestly higher volumes associated with the early stages of the economic recovery, and the completion of $8 ....

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2 Stocks to Buy With Dividends Yielding More Than 3%

2 Stocks to Buy With Dividends Yielding More Than 3%
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Inter Pipeline, BP: Your Daily Energy News

Inter Pipeline, BP: Your Daily Energy News
Industry Segment: Petroleum Refining | Word Count: 417 Words
We have handpicked and summarized a selection of energy-related news stories that we think will interest clients of Industrial Info and IIR Energy.
Companies featured: Inter Pipeline Limited (TSX:IPL), Brookfield Infrastructure Partners (NYSE:BIP), BP (NYSE:BP) ....

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Inter Pipeline urges shareholders to reject Brookfield's hostile bid

3 Min Read
CALGARY, Alberta (Reuters) - Inter Pipeline Ltd (IPL) on Tuesday asked shareholders to reject Brookfield Infrastructure Partners’ hostile bid, saying the offer “significantly undervalues” the Canadian oil and gas transportation company.
Brookfield last month launched a hostile C$7.1 billion ($5.6 billion) bid with the same C$16.50-per-share offer that IPL had previously rejected as inadequate.
Calgary-based IPL is undertaking a strategic review, which could include a corporate transaction and said it expects a superior offer or other alternatives to emerge. It also is looking for a partner for its C$4 billion Heartland Petrochemical Complex in Alberta, due to start operating early next year. ....

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