Inter Pipeline board recommends shareholders support revised Brookfield offer

Inter Pipeline Ltd. says its board of directors is recommending shareholders accept a $16-billion takeover offer by Brookfield Infrastructure Partners LLP. The Calgary-based company says Brookfield's revised offer filed July 19 represents a 21 per cent increase over its previous offer filed June 2. Brookfield is offering $19.75 per share, up from its earlier proposal valued at $16.50 per share. On Monday, Pembina Pipeline Corp. announced it had terminated its own rival offer for Inter Pipeline.