10:53 AM EST - Inter Pipeline Ltd. : Is responding to the news release by Brookfield Infrastructure Partners L.P., regarding Brookfield's intention to make an unsolicited offer to acquire all of the outstanding common shares of the Company not already owned by Brookfield . The Company confirms that it previously received unsolicited, non-binding and conditional proposals from Brookfield in the range of $17.00 to $18.25 per share. Upon receipt of the Conditional Proposals, consistent with its fiduciary duty to act in the best interests of all shareholders, the Company's Board of Directors engaged legal and financial advisors to assist the Company in assessing the Conditional Proposals. In response, based on a comprehensive assessment of the Conditional Proposals, the Board informed Brookfield that they did not reflect the intrinsic value of the Company and were not sufficiently pre-emptive to grant Brookfield exclusivity. Inter Pipeline Ltd.
shares T.IPL are trading up $4.19 at $17.59.
