Brookfield Wins Investor Support for Inter Pipeline Deal
- Company says it will own 68.9% of Inter Pipeline common shares
- Brookfield intends to pursue privatization of Inter Pipeline
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Brookfield Infrastructure Partners LP has won enough shareholder backing to push ahead with its C$8.6 billion ($6.7 billion) takeover of Inter Pipeline Ltd.
Inter Pipeline shareholders agreed to tender 65.6% of the common stock not already held by Brookfield Infrastructure, the Toronto-based company said in a statement late Friday, confirming an earlier report by Bloomberg News.