Brookfield Infrastructure Partners has made a $4.3-billion friendly takeover offer for Enercare Inc., which provides a variety of residential utility services. Enercare’s board unanimously supports the Brookfield Infrastructure offer, which is worth the equivalent of $29 per share in cash with an option to receive some of the price in equity. The deal has the unanimous support of Enercare’s board of directors but requires support from at least two-thirds of the votes cast by Enercare shareholders. The total deal value includes about $630 million (U.S.) of debt that Brookfield Infrastructure would assume. Enercare is attractive because of its stable long-term cash flows from equipment rentals, said Sam Pollock, CEO of Brookfield Infrastructure.

Source: thestar August 01, 2018 13:18 UTC