Inter Dismisses Brookfield Offer, Stands by Pembina Deal

Inter Pipeline Ltd. dismissed a hostile offer from Brookfield Infrastructure Partners LP and said it continues to recommend shareholders back a merger with Pembina Pipeline Corp.

The Canadian pipeline company Thursday in a statement that it “acknowledged” Brookfield’s intention to revise its offer, though Inter Pipeline’s board continues to unanimously recommend the Pembina deal. The proposed variation of Brookfield’s bid described in a June 2 press release “appears to be on substantially the same economic terms as the private proposal Brookfield made to Inter Pipeline on May 31,” Calgary-based Inter Pipeline said.

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