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Pembina Joins Inter Pipeline in Filing Cross-Applications with Alberta Securities Commission to Remedy Brookfield's Lack of Disclosure and Protect Shareholder Rights
Pembina Joins Inter Pipeline in Filing Cross-Applications with Alberta Securities Commiss...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n \n \n \n Pembina Joins Inter Pipeline in Filing Cross-Applications with Alberta Securities Commission to Remedy Brookfield's Lack of Disclosure and Protect Shareholder Rights\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Brookfield's\n \n \"Total Return Swap\" With Unnamed Parties Requires Full Disclosure and Should Not be Allowed to Interfere with Shareholders' Ability to Choose the Pembina – Inter Pipeline Transaction\n \n \n \n CALGARY, AB,\n \n June 21, 2021\n \n /CNW/ - Pembina Pipeline Corporation (\"\n \n Pembina\n \n \") (TSX: PPL) (NYSE: PBA) today announced that Pembina and Inter Pipeline Ltd. (\"\n \n Inter Pipeline\n \n \") (TSX: IPL) have filed cross-applications with the Alberta Securities Commission (the \"\n \n ASC\n \n \") to remedy disclosure issues and coercive tactics by Brookfield Infrastructure Partners L.P. and its affiliates (collectively, \"\n \n \n Brookfield\n \n \n \") in relation to its inferior hostile take-over offer of Inter Pipeline (the \"\n \n Take-Over Offer\n \n \").\n \n \n Pembina's President and Chief Executive Officer Mick Dilger added: \"It is critically important that all shareholders involved in a large transaction be given transparency and a fair, unencumbered process to choose the deal that they determine to be in their best interests. This is equally important for sophisticated investors and individual retail holders.\n \n Brookfield\n \n cannot use its 'block' of shares to threaten the strategic merger with Pembina, while at the same time claiming that it does not control these shares and that they count toward acceptance of its tender offer.\n \n Brookfield\n \n is clearly conflicted and must step back and let Inter Pipeline's other shareholders choose the best offer.\"\n \n \n Added Dilger, \"\n \n Brookfield\n \n is pushing the same offer that has essentially been repackaged three times while trying to unfairly influence a democratic process to have that inferior transaction accepted. We are asking the ASC to bring some daylight into the proc...