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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 12:47:44 pm
17.88 CAD   -1.16%
09:01aINTER PIPELINE  : Announces March 2021 Cash Dividend
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03/04INTER PIPELINE  : Joins The Alliance to End Plastic Waste
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03/02Waterous Energy Fund completes takeover of Osum Oil Sands Corp
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Inter Pipeline : starts review of options after rejecting Brookfield bid

02/18/2021 | 06:28pm EST

(Reuters) - Canada's Inter Pipeline Ltd said on Thursday it has launched a review of options, including a possible 'corporate transaction', just a week after it rejected an unsolicited bid from its largest shareholder Brookfield Infrastructure Partners.

Brookfield, which acquires and manages infrastructure assets, had offered C$16.50 per share for Inter and said it was willing to raise it to as much as C$18.25 if the pipeline operator gave it access to due diligence.

At the top price, Brookfield's offer valued Inter at C$7.8 billion ($6.15 billion) and would have made it the biggest Canadian oil and gas deal since 2017, according to data provider Dealogic.

However, the Calgary-based company rejected the offer, saying it was too low.

While Inter on Thursday did not give any detail on the type of corporate transaction it might consider, it said it continues to look for partner for its C$4 billion Heartland Petrochemical Complex in Alberta province.

The company had in 2019 rejected an unsolicited C$12.4 billion buyout offer from an unnamed bidder, which, according to several media reports, was Hong Kong billionaire Li Ka-shing. That offer valued Inter shares at around C$30 each.

The company's assets include over 7,000 km (4,300 miles) of pipelines and 5 million barrels of oil storage in western Canada, as well as natural gas liquids processing plants.

Separately, Inter posted a 68% jump in fourth-quarter profit, helped by higher volumes and capital fees at its oil sands transportation business.

Excluding items, it earned 24 Canadian cents, above expectations of 19 Canadian cents, according to Refinitiv IBES.

Its shares closed at C$17.50 in Toronto Stock Exchange on Thursday, up 30.6% since the Brookfield offer was made public.

($1 = 1.2674 Canadian dollars)

(Reporting by Shariq Khan in Bengaluru; Editing by Arun Koyyur)


© Reuters 2021
All news about INTER PIPELINE LTD.
09:01aINTER PIPELINE  : Announces March 2021 Cash Dividend
AQ
03/04INTER PIPELINE  : Joins The Alliance to End Plastic Waste
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03/02Waterous Energy Fund completes takeover of Osum Oil Sands Corp
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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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02/22INTER PIPELINE  : Urges Shareholders to Take No Action with Respect to Unsolicit..
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Financials
Sales 2021 2 294 M 1 810 M 1 810 M
Net income 2021 360 M 284 M 284 M
Net Debt 2021 6 863 M 5 413 M 5 413 M
P/E ratio 2021 20,6x
Yield 2021 2,70%
Capitalization 7 765 M 6 134 M 6 124 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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