Deals
Brookfield Bids to Take Brookfield Property Partners Private
- Canadian firm offers $16.50 per unit of property subsidiary
- ‘The right form for this is in the private markets’ CFO says
Photographer: Jason Alden/Bloomberg
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Brookfield Asset Management Inc. and a group of investors have offered to acquire the stake in Brookfield Property Partners that they don’t already own, in a $5.9 billion bid to take the real estate company private.
The Canadian alternative-asset manager said it has made a proposal to acquire the outstanding units for $16.50 each, or about a 14% premium to Thursday’s closing price in New York. Brookfield Asset Management already owns about 60% of Brookfield Property Partners, which had a market value of $13.8 billion as of Thursday’s close.