RTTNews | Jun 2, 2021 09:03AM EDT

09:03 Wednesday, June 2, 2021 (RTTNews.com) - Brookfield Infrastructure Partners L.P. (BIP, BIP.UN.TO), together with its institutional partners, announced Wednesday its intention to file a variation to its offer to acquire Inter Pipeline or IPL, by no later than June 4 2021, at a price per IPL common share currently valued at C$19.75.

Brookfield Infrastructure is taking its Offer directly to IPL shareholders. As the largest shareholder, it is disappointed by the seeming lack of fiduciary responsibility shown by the decision of the IPL Board of Directors to support an inferior proposal by Pembina Pipeline as announced by IPL on June 1, 2021.

Brookfield Infrastructure's Offer was made privately to the Company prior to the IPL Board of Directors decision to accept the Pembina offer. It believes that IPL shareholders will reach a different conclusion than IPL's Board of Directors about which transaction is most compelling to shareholders.

On Monday, Brookfield Infrastructure submitted its final offer valued at about C$19.50 per share comprised of 74% cash and 26% shares. The same evening they were informed that the "totality" of the competing offer from Pembina was superior, and exclusivity had already been signed.

Read the original article on RTTNews ( https://www.rttnews.com/3199388/brookfield-infrastructure-to-take-offer-directly-to-inter-pipeline-shareholders-quick-facts.aspx)

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