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Brookfield to buy 51% of TerraForm Power for $11.46/share

Mar. 07, 2017 7:50 AM ETBrookfield Corporation (BN) Stock, BN:CA StockBy: Carl Surran, SA News Editor155 Comments
  • In addition to its $787M deal to buy TeraForm Global, Brookfield Asset Management (NYSE:BAM) agrees to acquire 51% of TerraForm Power (TERP), becoming TERP's sponsor and controlling shareholder.
  • TERP class A shareholders will receive $11.46/share in cash, lower than BAM's previous offer of $12/share.
  • Assuming the completion of both transactions, BAM's commitment would total ~$500M, which it expects to fund through current liquidity.

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