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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Inter Pipeline Ltd.    IPL   CA45833V1094

INTER PIPELINE LTD.

(IPL)
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Delayed Quote. Delayed Toronto Stock Exchange - 03/08 12:53:11 pm
17.87 CAD   -1.22%
09:01aINTER PIPELINE  : Announces March 2021 Cash Dividend
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03/02Waterous Energy Fund completes takeover of Osum Oil Sands Corp
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Inter Pipeline : Brookfield launches hostile bid to buy Canada's Inter Pipeline

02/22/2021 | 08:58pm EST

(Reuters) - Brookfield Infrastructure Partners on Monday formally launched a hostile bid to buy Inter Pipeline Ltd with the same C$16.50-per-share offer that the Canadian oil and gas transportation company had rejected as inadequate weeks ago.

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 comes to the negotiating table, but Inter turned it down and later launched a strategic review of options.

The current offer from Brookfield, which acquires and manages infrastructure assets, values Inter at C$7.08 billion ($5.62 billion).

The investment firm earlier this month also said it had acquired a 19.65% economic interest in Inter Pipeline, to become the top shareholder in the Calgary-based company.

Brookfield said on Monday that other shareholders now have until June 7 to accept its offer at the original C$16.50 per share with an option to take that amount in cash or Brookfield's shares.

Inter Pipeline said separately that its special committee is reviewing the offer and will make a recommendation within 15 days.

"It is the Board's duty to not only review this offer, but to pursue all available opportunities to unlock maximum value for our shareholders," the company said in a statement, urging shareholders to not take any action on the hostile offer.

Inter, whose assets include more than 7,000 km (4,300 miles) of oil pipelines, 5 million barrels of oil storage in western Canada and natural gas liquids processing plants, said on Thursday its formal review could include a possible "corporate transaction" but no decisions have been made yet.

Brookfield Infrastructure has engaged BMO Capital Markets and Barclays Capital Canada Inc to act as joint financial advisers.

($1 = 1.2599 Canadian dollars)

(Reporting by Rithika Krishna and additional reporting by Shariq Khan in Bengaluru; Editing by Maju Samuel and Devika Syamnath)


© Reuters 2021
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02/22INTER PIPELINE  : Brookfield launches hostile bid to buy Canada's Inter Pipeline
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02/22INTER PIPELINE  : Brookfield launches hostile bid to buy Canada's Inter Pipeline
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Financials
Sales 2021 2 294 M 1 811 M 1 811 M
Net income 2021 360 M 284 M 284 M
Net Debt 2021 6 863 M 5 417 M 5 417 M
P/E ratio 2021 20,6x
Yield 2021 2,70%
Capitalization 7 765 M 6 118 M 6 129 M
EV / Sales 2021 6,38x
EV / Sales 2022 5,03x
Nbr of Employees 1 656
Free-Float 99,8%
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Technical analysis trends INTER PIPELINE LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 17,84 CAD
Last Close Price 18,09 CAD
Spread / Highest target 10,6%
Spread / Average Target -1,39%
Spread / Lowest Target -17,1%
EPS Revisions
Managers and Directors
NameTitle
Christian P. Bayle President, Chief Executive Officer & Director
Brent Cameron Heagy Chief Financial Officer
Richard A. Shaw Chairman
Richard Sawyer Vice President-EH&S & Technical Services
Duane E. Keinick Independent Director
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