18:22:55 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 627,925,923
Close 2014-10-22 C$ 51.39
Market Cap C$ 32,269,113,183
Recent Sedar Documents

Brookfield Asset to acquire remaining 30% of BRP

2014-10-23 07:08 ET - News Release

Also News Release (C-BRP) Brookfield Residential Properties Inc

Mr. Andrew Willis of Brookfield Asset reports

BROOKFIELD ASSET MANAGEMENT PROPOSES TO ACQUIRE 30% OF BROOKFIELD RESIDENTIAL PROPERTIES NOT CURRENTLY OWNED

Brookfield Asset Management Inc. has made a proposal to Brookfield Residential Properties Inc. to acquire the approximately 30 per cent of the common shares of Brookfield Residential that it does not own (about 36.8 million shares) for $23 (U.S.) cash per share. The proposed price represents a premium of approximately 20 per cent to both yesterday's closing price and the 30-day volume-weighted average price of Brookfield Residential shares on the New York Stock Exchange and Toronto Stock Exchange.

Process

Brookfield Asset Management has presented its proposal to the board of directors of Brookfield Residential and has asked the board to begin a process to review the proposal and appoint a special committee of independent directors to commission an independent valuation of Brookfield Residential's shares. Once the valuation is available, Brookfield Asset Management would seek to enter into a definitive agreement with Brookfield Residential with respect to the proposed transaction for presentation to shareholders.

We seek Safe Harbor.

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