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Monday, Sep 30
Brookfield Property offers $19.34 per share for Brookfield Office
- Brookfield Property Partners (BPY) offers to buy what it doesn't already own of Brookfield Office Properties (BPO) for $19.34 per share. BPO shareholders can accept either cash or shares of BPY (which closed Friday at $19.34) for their stake. The total value of the deal is about $5B.
- Trying to sell the deal to Brookfield Office shareholders, BPY notes they're getting a premium of 17% to the 30-day average share price. Those who accept stock in BPY will be getting a 79% increase in dividends and an 18% increase in book value.
- Easy game: SA Pro's Mike Arnold made a particularly well-timed bullish call on Brookfield Office just last Thursday.
- BPO +15.2% premarket to $19.32.
- Press release.