Pembina Pipeline signs deal to buy Inter Pipeline for $8.3B in stock
Inter Pipeline's Heartland Petrochemical Complex in Fort Saskatchewan, Alta. is shown in this undated handout photo. (THE CANADIAN PRESS/HO, Inter Pipeline)
CALGARY -
Pembina Pipeline Corp. has signed a deal to buy Inter Pipeline Ltd. for $8.3 billion in stock.
Under the deal, Inter Pipeline shareholders will receive half a Pembina share for each share of Inter Pipeline that they own.
The offer is valued at $19.45 per Inter Pipeline share based on the closing price of Pembina shares on Monday. Inter Pipeline shares closed at $17.55.
The deal tops an offer for Inter Pipeline made by Brookfield Infrastructure Partners LP that was valued at $16.50 per share.
The boards of Pembina and Inter Pipeline have unanimously approved the deal which also requires approval by a two-thirds majority vote by Inter Pipeline shareholders. A majority vote by Pembina shareholders is also needed.
Existing Pembina shareholders are expected to own 72 per cent of the combined company, while Inter Pipeline shareholders will hold 28 per cent.
This report by The Canadian Press was first published June 1, 2021.
CTVNews.ca Top Stories
'One of the single most terrifying things ever': Ontario couple among passengers on sinking tour boat in Dominican Republic
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
What Canadians think of the latest Liberal budget
A new poll suggests the Liberals have not won over voters with their latest budget, though there is broad support for their plan to build millions of homes.
opinion
opinion Why you should protect your investments by naming a trusted contact person
Appointing a trusted person to help with financial obligations can give you peace of mind. In his personal finance column for CTVNews.ca, Christopher Liew outlines the key benefits of naming a confidant to take over your financial responsibilities, if the need ever arises.
Teacher shortages see some Ontario high school students awarded perfect grades on midterm exams
Students at a high school in York Region have been awarded perfect marks on their midterm exams in three subjects – not because of their academic performances however, but because they had no teacher.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Photographer alleges he was forced to watch Megan Thee Stallion have sex and was unfairly fired
A photographer who worked for Megan Thee Stallion said in a lawsuit filed Tuesday that he was forced to watch her have sex, was unfairly fired soon after and was abused as her employee.
Ottawa injects another $36M into vaccine injury compensation fund
The federal government has added $36.4 million to a program designed to support people who have been seriously injured or killed by vaccines since the end of 2020.
An Ontario senior thought he called Geek Squad for help with his printer. Instead, he got scammed out of $25,000
An Ontario senior’s attempt to get technical help online led him into a spoofing scam where he lost $25,000. Now, he’s sharing his story to warn others.
Her fiance has been in prison for 49 years. She's trying to free him before it's too late
Christine Roess is a retired consultant. Ezra Bozeman has spent the last 49 years in prison, serving a life sentence for a murder he says he didn’t commit. Against the odds, the two fell in love.
Shopping Trends
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
Edmonton
-
8.9% property tax approved by Edmonton council
Edmonton city council unanimously agreed on an 8.9-per cent property tax increase Tuesday evening.
-
LIVE @ 9:30 MT
LIVE @ 9:30 MT Weekly provincial wildfire update happening Wednesday
Officials will provide an update on the number and status of wildfires in Alberta on Wednesday.
-
LIVE @ 11:30 MT
LIVE @ 11:30 MT Police to provide update on Edmonton extortion series today
Edmonton police will provide on Wednesday an update on their investigation into a series of extortions and fires affecting local South Asian home builders.
Lethbridge
-
Alberta, B.C. preparing for early start to wildfire season
Wildfires in Alberta and B.C. appear to be getting off to an early start this year. Both province's wildfire services are doing what they can to prepare for what's expected to be a tough summer.
-
Man sent to hospital with head injury following Lethbridge encampment assault
An assault over property at a Lethbridge encampment ended with a man in hospital suffering from a serious head injury.
-
Southern Alberta woman wins $2M on Western 6-49 lottery
A southern Alberta woman says she began to hyperventilate when she realized she had won $2 million.
Vancouver
-
BREAKINGBREAKING Man found dead in White Rock, homicide team investigating
A man was found dead in White Rock Tuesday night, leading to an investigation by B.C.’s Integrated Homicide Investigation Team.
-
Nashville Predators level playoff series with 4-1 victory over Canucks
The Nashville Predators downed the Vancouver Canucks 4-1 Tuesday night and levelled the series at 1-1.
-
B.C. man finds his stolen tools for sale online less than 24 hours after break-in
Mounties in Richmond are praising the victim of a break-in for his "due diligence," which they say helped them recover stolen goods from two investigations.
Vancouver Island
-
Mounties will not be charged in shooting death of B.C. Indigenous man
Three Mounties in British Columbia will not face charges in the killing of a 38-year-old Indigenous man on Vancouver Island in 2021.
-
Nashville Predators level playoff series with 4-1 victory over Canucks
The Nashville Predators downed the Vancouver Canucks 4-1 Tuesday night and levelled the series at 1-1.
-
Bodies found by U.S. authorities searching for missing B.C. kayakers
United States authorities who have been searching for a pair of missing kayakers from British Columbia since the weekend have recovered two bodies in the nearby San Juan Islands of Washington state.
Saskatoon
-
Punched, kicked, spat on: Saskatoon Transit workers call for help after violent assaults
The union representing the city’s bus drivers says violence against transit workers is out of control.
-
Trudeau to Sask. residents: We're not coming for your carbon rebates
People in Saskatchewan will keep getting Canada Carbon Rebate payments, despite an ongoing feud between Ottawa and the provincial government.
-
'No better namesake': Veteran support program honours James Smith victim
A new mental health support program for veterans is honouring the life of a Sask. man killed during the mass stabbings on the James Smith Cree Nation.
Regina
-
One year after fatal collision, Regina council has final say on lower speed limit in Cathedral
Regina city councillors are set to consider lowering the speed limit in the Cathedral neighbourhood to 30 kilometres per hour on Wednesday.
-
What Canadians think of the latest Liberal budget
A new poll suggests the Liberals have not won over voters with their latest budget, though there is broad support for their plan to build millions of homes.
-
Suspect in 2023 Regina homicide joins Canada's Top 25 Most Wanted
Daniel "Juma" Drie Atem, wanted in connection to a Regina homicide last summer, is now one of Canada's Top 25 Most Wanted.
Toronto
-
JUST INJUST IN Ontario launching AI program to help reduce doctor paperwork
The Ontario government is launching an artificial intelligence program they say will help reduce the paperwork burden on family doctors, freeing up about 95,000 hours that could be spent with patients.
-
Speed limits to increase on some sections of Ontario highways, province says
The Ontario government says it will be raising the speed limit along certain stretches of provincial highways soon, including Highway 401 and Highway 403.
-
'One of the single most terrifying things ever': Ontario couple among passengers on sinking tour boat in Dominican Republic
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
Montreal
-
Widow looking for answers after Quebec man dies in Texas Ironman competition
The widow of a Quebec man who died competing in an Ironman competition is looking for answers.
-
'Highly complex' work delays REM completion to West Island, North Shore
The completion of Montreal's Reseau express metropolitain has been postponed yet again.
-
Temperatures in Montreal to plummet after warm start to the week
A sharp cold front sweeping across Quebec should drop temperatures rapidly throughout the day, with some areas possibly seeing rain change to wet snow.
Atlantic
-
Funeral to be held Wednesday for 16-year-old Halifax homicide victim
A funeral will be held Wednesday afternoon in Bedford, N.S., for a 16-year-old boy who died earlier this week following an incident near the Halifax Shopping Centre.
-
N.B. woman who raised awareness of dangers of radon gas dies
A New Brunswick woman who raised awareness about the dangers of radon gas after receiving a terminal lung cancer diagnosis last year has died.
-
N.B. mother pushes for age mandate changes at childrens' hospital in light of son’s 16th birthday
A New Brunswick mom is speaking out for her son after learning that after over a decade of care, he is now too old for the IWK in Halifax, which age mandate is 16 years of age for children
Winnipeg
-
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
-
'We always have a thoughtful process for that': The dark reality facing aging zoo animals
Anyone who visits Assiniboine Park Zoo can see empty or near-empty exhibits scattered throughout the grounds – spaces that previously served as homes for aging animals that have since passed away.
-
Winnipeg man bringing his 119-year-old home back to its original glory
When you step through the front door of Matthew Jacobi's 119-year-old home, it's like jumping back through history. For the past year, Jacobi has been restoring his Queen Anne Revival-era home in Winnipeg's North Point Douglas neighbourhood back to its former glory.
Ottawa
-
Ontario to increase speed limit on Hwy. 416 to 110 km/h
Beginning this summer, the speed limit will increase from 100 km/h to 110 km/h on approximately 70 kilometres of Hwy. 416 between Hwy. 401 and Ottawa.
-
Residents raise concerns about plan for Inuit women's shelter in Ottawa's south end
Residents in Ottawa's Hunt Club neighbourhood are raising concerns about plans to build an Inuit women's shelter in the south end neighbourhood.
-
NCC buys golf course near Gatineau Park for $3.9 million
The National Capital Commission has purchased the old Dunnderosa Golf Course in Chelsea, Que., as part of its plan to acquire private properties in Gatineau Park.
Northern Ontario
-
An Ontario senior thought he called Geek Squad for help with his printer. Instead, he got scammed out of $25,000
An Ontario senior’s attempt to get technical help online led him into a spoofing scam where he lost $25,000. Now, he’s sharing his story to warn others.
-
'Armed and dangerous' southern Ont. man wanted by Manitoulin police
Police on Manitoulin Island are looking for an 'armed and dangerous' man following an incident involving a firearm on Friday.
-
Mobility scooter burst into flames in northern Ontario
It was a scary sight in northern Ontario Monday morning after an electric mobility scooter caught on fire.
Barrie
-
Fire at Barrie biodegradable straw company
A fire at a paper straw company occurred Tuesday night.
-
Barrie's Duckworth Street undergoes major reno
Duckworth Street will be closed between Howard Crescent and Melrose Avenue for construction.
-
Tattoo you for youth
Youth Haven is in the fundraising stage to reach their goal of $2 million to build a new residence.
Kitchener
-
Pedestrian seriously hurt after crash in Kitchener
A pedestrian had to be taken to an out-of-region hospital following a crash in Kitchener.
-
'My parking is my freedom': Kitchener resident barred from garage despite illness
For Kitchener resident Chris Wilson, indoor parking is much more than a convenient place to leave his vehicle.
-
'He was left there to die': Cat tied up in multiple bags and abandoned in Paris
A cat is on the mend after he was tied up in multiple bags and left on an embankment near Paris.
London
-
Smashed windshield and speeding leads to charges
OPP have charged a driver in Lambton County for speeding and operating an unsafe vehicle after a traffic stop on Tuesday. Around 12:40 p.m., police stopped a vehicle on Townsend Line in Arkona for reportedly driving over 80 km/h in a posted 50 km/h zone.
-
Speed limits to increase on some sections of Ontario highways, province says
The Ontario government says it will be raising the speed limit along certain stretches of provincial highways soon, including Highway 401 and Highway 403.
-
Train derailed in Sarnia after colliding with a truck
Police are investigating after a transport truck collided with a train in Sarnia.
Windsor
-
Taser and drugs seized during traffic stop
Windsor police have charged two suspects after seizing illegal drugs and a Taser during a traffic stop.
-
CBSA wants you to know reporting obligations before you boat in or out of Canada
Canada Border Services Agency is reminding all private boaters of their entry and reporting obligations when navigating Canadian waters or entering Canada by boat.
-
Speed limits to increase on some sections of Ontario highways, province says
The Ontario government says it will be raising the speed limit along certain stretches of provincial highways soon, including Highway 401 and Highway 403.
