Inter Pipeline continues to recommend strategic combination with Pembina
After considering the Brookfield Proposal and the proposed Pembina Transaction in detail, and receiving the advice of its financial and legal advisors and the recommendation of the Special Committee, the Inter Pipeline board was unanimously of the view that the proposed Pembina Transaction “is financially superior and in the best interests of Inter Pipeline and its shareholders”.
The board of directors of Inter Pipeline said it continues to unanimously recommend the Pembina Transaction to Inter Pipeline shareholders.
As announced on June 1, 2021, Inter Pipeline and Pembina Pipeline Corporation have entered into an arrangement agreement providing for Pembina to acquire all the issued and outstanding common shares of Inter Pipeline in an all-share transaction.
The board of directors of Inter Pipeline continues to unanimously recommend the Pembina Transaction to Inter Pipeline shareholders, which is “highly strategic for both parties”. Inter Pipeline shareholders will benefit from a 175 percent increase to their monthly dividend upon closing and share in significant annual synergies.
The Pembina Transaction will also enable shareholders to participate directly in the cash flow growth from the Heartland Petrochemical Complex that is expected to enter service in early 2022 as well as Pembina’s extensive investment opportunities.
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4th June 2021