Benzinga | Jul 26, 2021 07:15AM EDT

Pembina Terminates Inter Pipeline Acquisition; Inter Pipeline To Pay Pembina $350M Cash Termination Fee

Pembina Pipeline Corporation ("Pembina") (TSX:PPL) (NYSE:PBA) today announced that it has terminated the arrangement agreement with Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) providing for the proposed acquisition by Pembina of Inter Pipeline, in accordance with its terms. In connection with the termination, Inter Pipeline has agreed to pay Pembina the C$350 million termination fee provided for in the agreement.