By Reuters Staff
2 Min Read
Brookfield Asset Management CEO Bruce Flatt poses in front of the company’s logo in Tokyo, Japan, May 16, 2019.
NEW YORK (Reuters Breakingviews) - CANADIAN HOSPITALITY. Brookfield Asset Management is engaging in some self-serving generosity. On Thursday the Canadian property giant raised its bid to take private its listed commercial real estate arm, Brookfield Property Partners, offering minority shareholders $6.5 billion, or 10% more than January’s opening gambit.
Digging deeper is a Brookfield speciality. It similarly raised bids for GGP, Rouse Properties, Brookfield Office Properties and Canada Office Properties. This bump is bigger than usual, partly because Brookfield’s own shares have risen in the meantime. That’s despite the fact the group holds around 60% of BPP already. At Rouse and GGP it didn’t even have a majority stake.
Brookfield to buy remaining stake in Brookfield Property Partners theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
TORONTO Brookfield Asset Management Inc. has raised its offer and reached a deal to buy the stake in Brookfield Property Partners LP that it does not already own for US$6.5 billion. The alternative investment manager says it will pay US$18.17 per Brookfield Property unit, up from its earlier offer of US$16.50 per unit. The […]
Brookfield Asset to buy remaining stake in real estate unit for $6 5 billion reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.