By Michael Dabaie

Brookfield Infrastructure Partners L.P. said it would file a revised cash and share offer directly to Inter Pipeline Ltd. shareholders valued at 19.75 Canadian dollars ($16.36) a share.

Pembina Pipeline Corp. said Tuesday it would acquire Inter Pipeline Ltd. in a share-for-share deal that values Inter Pipeline common shares at about C$8.3 billion, or C$19.45 a share, based on the closing price of Pembina's common shares on May 31.

Pembina and Inter Pipeline didn't immediately respond to requests for comment.

Brookfield Infrastructure in February said it had commenced a formal offer to acquire all of the outstanding common shares of Inter Pipeline Ltd.

Brookfield Infrastructure said Wednesday it is taking its offer directly to IPL shareholders. Brookfield said the cash component of the offer represents 74% of the total consideration.

Inter Pipeline shares in Toronto closed Tuesday up 8% to C$18.91.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

06-02-21 0844ET