Inter Pipeline's Heartland Petrochemical Complex in Fort Saskatchewan, Alta. is shown in an undated handout photo. Brookfield Infrastructure Partners L.P. says it has completed the acquisition of Inter Pipeline Ltd. The transaction was approved near unanimously by Inter Pipeline shareholders and received final approval from an Alberta court. THE CANADIAN PRESS/HO, Inter Pipeline *MANDATORY CREDIT*
October 28, 2021 - 4:24 PM
CALGARY - Brookfield Infrastructure Partners L.P. says it has completed the acquisition of Inter Pipeline Ltd.
The transaction was approved near unanimously by Inter Pipeline shareholders and received final approval from an Alberta court.
Shareholders other than Brookfield Infrastructure had until Tuesday afternoon to receive $20 in cash, one-quarter of a Brookfield share or a combination of the two.
Cash was the selection option for holders of 68.7 million Inter Pipeline shares while Brookfield shares were chosen by the holders of 32.4 million shares.
Inter Pipeline shares are expected to be delisted from the Toronto Stock Exchange at the end of Monday trading.
Brian Baker was appointed interim CEO following the resignation of Christian Bayle.
This report by The Canadian Press was first published Oct. 28, 2021.
Companies in this story: (TSX:IPL, TSX:BIPC)
News from © The Canadian Press, 2021