April 01, 2021 | Real Estate | North America | Ended

Brookfield Property Partners / Brookfield Asset Management: New Deal Insights

Brookfield Asset Management (BAM/A CN, BAM US) has confirmed a definitive deal to take private Brookfield Property Partners (BPY-U CN, BPY US). BAM already holds 61.7% economic interest of BPY, and on 1-Apr-21, BPY’s independent board members agreed to an increased offer, which will be structured as an Ontario court-approved transaction. The offer price represents a 10% premium to BAM’s earlier proposal made on 4-Jan-21 and a 26% premium to BPY’s 31-Dec-20 undisturbed price. Under the agreement, BPY unitholders can ... Deal risks assessed in this research report: • Shareholder activism leading to a breach in the 5% dissenters’ cap threshold

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