Brookfield Infrastructure encourages Inter Pipeline shareholders to submit bids to IPL’s board of directors for the proposed offer before the deadline of 5 pm [Mountain Time] August 6 – QNT Press Release

  • Inter Pipeline Ltd. (“IPL”) shareholders must bid for their shares before August 6day Obtained a substantial premium under Brookfield Infrastructure’s offer to acquire the company
  • The IPL Board of Directors recommends that IPL shareholders accept Brookfield Infrastructure’s offer
  • Quotation represents one 50% premium IPL’s unaffected share price1 And has obtained all key regulatory and financing approvals, capable of Closed within three working days after the offer expires (Subject to the revised legal minimum conditions)
  • Shareholders can choose up to 100% of the cash consideration, the total IPL per share is 20.00 Canadian dollars, without pro rata distribution, or 0.250 Brookfield Infrastructure Corporation’s Class A exchangeable secondary voting shares (“BIPC shares”), Need to be prorated
  • Have questions or need help?Please call 1-877-452-7184 or email to [email protected] to contact the Laurelhill Advisory Group

Brookfield News, August 3, 2021 (Global News Service)-Brookfield Infrastructure Partner LP (NYSE:beep, Toronto Stock Exchange:beep) And its institutional partners (collectively referred to as “Brookfield Infrastructure”) remind IPL (Toronto Stock Exchange:Intense pulsed light) Shareholders bid in accordance with the offer outlined in the Fourth Notice of Changes and Changes (the “Offer”) dated July 19, 2021.

IPL recommends that shareholders accept the Brookfield infrastructure offer

On July 27, 2021, IPL announced that its board of directors recommended acceptance of Brookfield Infrastructure’s offer, reiterating the attractive value and flexibility of the offer, including a substantial cash content and the option of a potential tax extension for qualified shareholders.

With the endorsement of the IPL board of directors and guidance on the merits of our offer from Institutional Shareholder Services and Glass, Lewis & Co., Brookfield Infrastructure now has a clear path to acquire IPL. We remind shareholders that they must bid for their shares before the expiry date in order to obtain the consideration under the offer.

Reasons for bidding for the Brookfield Infrastructure Offer

  • IPL’s unaffected share price has a significant premium: The offer is 50% premium to the unaffected share price of IPL1
  • Flexibility considered: IPL shareholders can choose the form of consideration according to their personal preferences (proportional distribution)
  • Closing speed and instant liquidity: Brookfield Infrastructure has been approved by all major regulatory authorities to purchase and pay bid shares within three working days after the offer expires (subject to the revised legal minimum conditions)
  • Deferred tax considerations: Eligible shareholders can choose to transfer the tax deferral period to BIPC shares through an offer, which has been successfully used in previous Brookfield infrastructure-led privatizations
  • Opportunities to participate in the Brookfield Infrastructure Global Infrastructure Platform: Our platform provides a unique advantage to be able to invest in four key infrastructure areas at all points in the economic cycle and across multiple regions to ensure that our investors get the best risk-adjusted returns

IPL shareholders are encouraged to bid for the Brookfield Infrastructure Offer, which will open for acceptance at 5:00 pm (Mountain Time) on August 6, 2021. Shareholders requested bids to support the offer.

(1) IPL’s closing price premium on the Toronto Stock Exchange on February 10, 2021 was $13.40. Assume that IPL shareholders choose higher-value BIPC shares, resulting in 68% cash and 32% share ratio, based on the closing price of BIPC shares on the Toronto Stock Exchange on July 30, 2021.


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