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Brookfield Infrastructure Partners (TSX:BIP.UN) is an ideal stock for growth, income, and defence. It is a great dividend stock to buy and hold for forever! ....
Author Bio Matthew is a senior energy and materials specialist with The Motley Fool. He graduated from Liberty University with a degree in Biblical Studies and a Masters of Business Administration. You can follow him on Twitter for the latest news and analysis of the energy and materials industries: Follow @matthewdilallo Brookfield Infrastructure (NYSE:BIP)(NYSE:BIPC) isn t letting another potential suitor get in the way of its quest to acquire Canadian oil infrastructure company Inter Pipeline (TSX:IPL). One day after its target agreed to merge with rival Canadian midstream company Pembina Pipeline (NYSE:PBA), Brookfield Infrastructure launched a revised offer for Inter Pipeline. ....
Article content CALGARY After previous failed attempts, Pembina Pipeline Corp. has a deal in place to buy rival Inter Pipeline Ltd. that tops a hostile bid from Brookfield Infrastructure Partners. “I’ve been thinking about this for 10 years. This is my third try,” Pembina president and CEO Mick Dilger said on a Tuesday conference call announcing the all-share deal, which values Calgary-based Inter Pipeline’s equity at $8.3 billion. Dilger said he last attempted to buy Inter Pipeline roughly eight years ago but wasn’t successful. This attempt, he said, is “third time lucky.” We apologize, but this video has failed to load. ....
CALGARY - Pembina Pipeline Corp. has signed a friendly deal to buy Inter Pipeline Ltd. for $8.3 billion in stock, surpassing a hostile bid by Brookfield Infrastructure Partners. ....
The offer is valued at $19.45 per Inter Pipeline share based on the closing price of Pembina shares on Monday. Inter Pipeline shares closed at $17.55 but increased $1.53 or 8.7 per cent at $19.08 in afternoon trading on the Toronto Stock Exchange The deal tops the offer made by Brookfield that was valued at $16.50 per share. In March, CEO Chris Bayle said the Brookfield bid undervalued their business. After a comprehensive review of strategic alternatives by the special committee of the board of directors of Inter Pipeline, it was evident that a combination with Pembina offered compelling value for Inter Pipeline shareholders in the short-term, said Margaret McKenzie, Inter Pipeline s chairwoman. ....