09:47 AM EST - Inter Pipeline Ltd. : Announced that the Board of Directors has unanimously determined that Brookfield's hostile takeover bid is not in the best interests of the Company or its shareholders. The Board's determination followed careful consideration, including advice from its financial and legal advisors, and the recommendation of a Special Committee of independent directors. The Board believes the Hostile Bid significantly undervalues Inter Pipeline's standalone plan and unanimously recommends that Shareholders REJECT the Hostile Bid and NOT TENDER their Common Shares. Inter Pipeline Ltd.
shares T.IPL are trading up $0.15 at $18.05.
