TORONTO – Brookfield Infrastructure Partners has made a $4.3-billion friendly takeover offer for Enercare Inc. of Markham, Ont., which provides a variety of home services such as electricity, water heaters, furnaces and air conditioners.
Enercare’s board unanimously supports the Brookfield Infrastructure offer, which is worth the equivalent of $29 per share in cash or equity.
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That’s 53 per cent above Enercare’s stock price at the end of trading Tuesday, when the shares closed at $18.91.
The total deal value includes about US$630 million of debt that Brookfield Infrastructure would assume.
Brookfield Infrastructure is a publicly traded member of the Toronto-based Brookfield group of companies.
It owns and operates utility, transport, energy and other infrastucture businesses around the world.
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