May 1, 2017 / 10:49 AM / 4 months ago

CORRECTED-Pembina Pipeline to buy Veresen in C$9.7 bln deal

(Corrects third paragraph to say the offer is at a 22.5 percent premium to the last close of Veresen, not Pembina)

May 1 (Reuters) - Pembina Pipeline Corp said it would buy Veresen Inc in a deal valued at C$9.7 billion, including debt, creating a company that will hold oil and gas pipelines, terminal, storage and processing facilities.

Pembina said Veresen shareholders could opt to get either 0.4287 of a Pembina share or C$18.65 in cash.

That is a 22.5 percent premium to Veresen's last close, the companies said.

Pembina said it would pay as much as about C$1.52 billion in cash and 99.5 million of its stock. (Reporting by Swetha Gopinath in Bengaluru; Editing by Shounak Dasgupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below