- IPL’s Board recommends shareholders accept the offer from Brookfield Infrastructure (BIP.UN)
- Benefits include a significant premium to IPL’s share price, speed to close and the opportunity to participate in Brookfield’s global infrastructure platform
- With the endorsement from IPL’s board, Brookfield Infrastructure now has a clear path to acquiring IPL
- Brookfield Infrastructure owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors
- Brookfield Infrastructure Partners L.P. is down 0.89 per cent, trading at C$67.70 per share
IPL announced that its board recommends acceptance of the offer from Brookfield Infrastructure (BIP.UN).
Reasons for IPL’s recommendation include a significant premium to IPL’s share price, speed to close and the opportunity to participate in Brookfield’s global infrastructure platform.
Brookfield Infrastructure has engaged BMO Capital Markets and Barclays Capital Canada Inc. to act as joint financial advisors and McCarthy Tétrault LLP to act as its legal advisor in connection with the offer.
Brookfield Infrastructure’s offer is open for acceptance until 5:00 p.m. (Mountain Time) on August 6, 2021.
With the endorsement from IPL’s board, Brookfield Infrastructure now has a clear path to acquiring IPL. Shareholders are reminded that they must tender their shares prior to the expiry date in order to receive the consideration under the offer.
Brookfield Infrastructure is a leading global company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across North and South America, Asia Pacific and Europe.
Brookfield Infrastructure Partners L.P. is down 0.89 per cent, trading at C$67.70 per share.