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Pfizer vaccine arriving in Alberta

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From the Province of Alberta

More than 25,000 doses of COVID-19 vaccine en route to Alberta

Alberta will soon receive 25,350 doses of Pfizer vaccine and will start immunizing priority health-care workers provincewide.

During the week of Dec. 21, Alberta will receive shipments of vaccines from Pfizer at dedicated vaccine sites across the province.

Right now, the Pfizer vaccine must be administered at its delivery site, so these doses will be provided to respiratory therapists, intensive care unit physicians and staff, and eligible long-term care and designated supportive living workers across the province.

These are in addition to the 3,900 doses that are expected to arrive this week and will begin to be administered in Calgary and Edmonton within days of delivery. The ultra-cold freezers needed for the Pfizer vaccines are now installed at eight locations across Alberta and AHS staff are being trained to ensure quality and safety are maintained.

“This welcome news brings much-needed hope to Albertans, particularly health care workers, during this incredibly trying time in the pandemic. These staff are exhausted, and I hope seeing more vaccinations are on the way will show them there’s an end in sight. Albertans can be confident this vaccine is safe and will be administered quickly and efficiently.”

Tyler Shandro, Minister of Health

“Alberta Health Services, Alberta Health and the COVID-19 task force have been hard at work preparing for the vaccine doses arriving this week and next. We have the plans in place to get the vaccines to where they need to go: into the arms of Albertans.”

Paul Wynnyk, chair, COVID-19 Vaccine Task Force

“I am very pleased to hear that we will be able to immunize more of our front-line health-care workers and vulnerable Albertans before the end of the year. But this is not the end. We must continue to follow health measures to bend the curve, and until enough of us are immunized, we must continue to be each others’ vaccine.”

Dr. Deena Hinshaw, chief medical officer of health

Pending final approval from Health Canada, the Moderna COVID-19 vaccine is expected to arrive in Alberta later in December. The Moderna vaccines can be transported to other locations, so the initial shipment will be used to immunize residents at long-term care locations beginning with those at highest risk, including two First Nations seniors facilities.

As more shipments arrive in early January, immunization will focus on Phase 1 priority populations and will include residents of long-term care and designated supportive living facilities, followed by seniors aged 75 and over and First Nations on reserve, Inuit and on-settlement Metis individuals aged 65 and over.

Phase 2 is still expected to start by April 2021 and will be targeted to the next groups of prioritized populations. Final decisions regarding eligibility in Phase 2 have not yet been determined.

Phase 3 will involve rolling out vaccinations to the general Alberta population, and is anticipated to start later in 2021.

Quick facts

  • Alberta has worked closely with the federal government and other provinces and territories to acquire COVID-19 vaccines since the pandemic began.
  • Both the Pfizer and Moderna vaccines require two doses.
  • The Pfizer vaccine was approved on Dec. 9.
  • The Moderna vaccine has not been approved by Health Canada.

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Alberta

Brookfield Asset Management completes privatization of Brookfield Property partners

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CALGARY — Brookfield Asset Management Inc. says it has closed a deal to acquire the remaining stake in Brookfield Property Partners.

The previously announced deal to buy the stake in the firm it already owns will also take the real estate firm private. 

Under the deal, unitholders have a choice of US$18.17 in cash, 0.4006 of a Brookfield Asset Management class-A limited voting share or 0.7268 of a BPY preferred unit, with limits for each category.

Brookfield Property REIT Inc. says it is redeeming all of its outstanding 6.375% Series A cumulative redeemable preferred stock on Aug. 19 for $25 per share cash, plus all accumulated and unpaid dividends for total proceeds of more than $25.21.

The agreement was overwhelmingly approved on July 16 by Brookfield Property Partners minority unitholders.

Brookfield Property Partners owns or operates a wide variety of properties. including office buildings, shopping malls and other properties across the world.

This report by The Canadian Press was first published July 26, 2021.

Companies in this story:(TSX:BPY.UN, TSX:BAM.A)

The Canadian Press

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Alberta

Brookfield confident in offer for Inter Pipeline after Pembina terminates rival bid

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CALGARY — Brookfield Infrastructure Partners LLP said it’s confident its hostile bid for Calgary-based Inter Pipeline will be successful now that Pembina Pipeline Corp. has terminated its own rival offer.

Brookfield’s $16-billion offer is now “the sole transaction on the table” for Inter Pipeline shareholders and any delay in accepting it would not be in shareholders’ best interests, Brookfield spokeswoman Claire Holland said.

“We believe Inter Pipeline’s board made the right decision,” Holland said in an email. “This decision implicitly affirms the merits of our offer, which provides superior value, flexibility and certainty.”

Pembina announced Monday it had terminated its bid for Inter Pipeline after its board advised it would no longer recommend shareholders support the deal. Pembina will pocket a $350-million break fee as a result. 

The news came nearly two months after Inter Pipeline entered into a friendly $8.3-billion all-share deal with Pembina equal to $19.45 per share. The deal — which would have seen Inter Pipeline shareholders receive half a Pembina share for each Inter Pipeline share they hold — was struck in response to the hostile takeover bid from Brookfield that Inter Pipeline said undervalued its business.

Brookfield, Inter Pipeline’s largest shareholder, subsequently raised its cash and share takeover offer to $19.75 per share, up from its earlier proposal valued at $16.50 per share. It later revised the offer by giving shareholders the option to receive their entire payment in cash, instead of a mix of cash and shares, if they desire.

Brookfield again raised its offer in mid-July to $20 in cash or 0.25 of a Brookfield Infrastructure share for each Inter Pipeline share, with a cap on the number of shares that are available.

At least two prominent shareholder advisory firms, ISS and Glass Lewis, recommended that Inter Pipeline investors reject the company’s proposed sale to Pembina and instead support the takeover by Brookfield.

On Monday, Pembina CEO Mick Dilger said he was disappointed with the outcome.

“The industrial logic of a combined Pembina and Inter Pipeline remains unparalleled and the value creation between certain of our assets is impossible to replicate by any other entity,” he said in a news release.

Dilger said the company will continue to seek opportunities for growth through “focused acquisitions.” 

“Pembina remains optimistic about its future, including the profitability of our existing business given foreseeable sector tailwinds, as well as with tremendous flexibility to pursue an ever increasing and more diverse set of opportunities for growth, some of which we were able to highlight and advance during this process.”

Inter Pipeline said it is open to working with Brookfield to reach a “mutually agreeable transaction.” The Brookfield offer expires on Aug. 6.

Earlier this month, the Alberta Securities Commission ruled in favour of Inter Pipeline and Pembina in a decision that was critical of the tactics used by Brookfield Infrastructure in the takeover fight.

The securities regulator upheld a $350-million break fee that Brookfield had sought to have cancelled.

It said Brookfield Infrastructure used “abusive” tactics in its attempt to buy Inter Pipeline and ordered the company to provide additional disclosure related to total return swaps it holds that give it economic exposure to Inter Pipeline’s shares.

The regulator also raised the minimum tender conditions of the Brookfield Infrastructure offer to 55 per cent from a simple majority of the shares tendered by shareholders other than Brookfield and those acting in concert with it.

This report by The Canadian Press was first published July 26, 2021.

Companies in this story: (TSX:IPL, TSX:PPL, TSX:BIPC)

Amanda Stephenson, The Canadian Press

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