News Post
Inter Pipeline and Pembina Terminate Takeover Offer, Heartland Petrochemical Complex Continues Construction
Inter Pipeline of Calgary announced in late July that its board of directors would not be reconfirming an $6.7 billion takeover offer from Pembina Pipeline Corporation. This arrangement agreement has indeed been terminated.
In May 2021, this arrangement was constructed as a combination of the businesses, but in July of this year Brookfield Infrastructure Partners came in with a revised offer. With the Pembina arrangement now terminated, Inter Pipeline is expected to recommence new discussions with Brookfield Infrastructure over a transaction that would please shareholders.
At the heart of Inter Pipeline’s plans is the upcoming Heartland Petrochemical Complex in Strathcona County, Alberta. This project will be North America’s first integrated propane dehydrogenation and polypropylene facility with a capacity for 525,000 tons per year and is due in the first half of 2022.
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