Canadian Competition Bureau clears Pembina’s Kinder Morgan buy

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Dash company Pembina Pipeline Corp. said it has received approval from the Canadian Tournament Bureau on Wednesday, to buy Kinder Morgan Canada Ltd.

The company said the agree to satisfies the last regulatory condition necessary for the deal to close.

In August, Pembina Tube had agreed to buy Kinder Morgan Canada and the U.S. portion of the Cochin pipeline for $4.35 billion, magnitude up its storage resources in Canada.

Pembina’s deal follows an unsolicited bid for contest Inter Pipeline Ltd, highlighting growing interest in the midstream business of hypnotizing and storing crude.

The deal is expected to close next month, and is contingent on respect by Kinder Morgan Canada shareholders at a special meeting scheduled on Dec. 10.

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