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Inter Pipeline’s Heartland Petrochemical Complex in Alberta. Article content The seismic collapse of oil prices that began one year ago left weakened Canadian energy companies vulnerable to the pressures of consolidation. Will a sharp recovery in prices change that dynamic in 2021? Two different takeover deals are providing insight into how companies — and investors — see M&A activity playing out this year. Inter Pipeline Ltd. is trying to fend off a hostile bid from Brookfield Infrastructure Partners LP and is now looking for a better offer. On Tuesday, the board of the Calgary-based midstream company rejected the unsolicited bid from Brookfield, dismissing the proposal as being opportunistic. Inter Pipeline CEO Chris Bayle said it doesn’t reflect the underlying value of the company and the benefit of its Heartland Petrochemical Complex now being built in Strathcona County in Alberta. And he also believes it doesn’t reflect the recent rally in energy markets. Article content “We don’t think that offer factors in at all the considerable strengthening in energy prices and petrochemical prices that have happened from late last year to today,” Bayle said in an interview Tuesday. Brookfield’s bid for Inter Pipeline was launched last month and offers $16.50 […]
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