Brookfield Office Properties Inc.NYSE
BPO is defunct.
  • Dec. 20, 2013, 8:57 AM
    • Brookfield Property Partners (BPY) bumps the cash portion of its offer for Brookfield Office Properties (BPO) by $1 to $20.34 per share.
    • Brookfield Office shareholders can elect to receive either cash or one share of BPY for each share of BPO they own.
    • The BPO board recommends accepting the boosted offer.
    • Press release
    • BPO +1.4% to $19.61 premarket. BPY closed yesterday at $20.14.
    | Dec. 20, 2013, 8:57 AM
  • Sep. 30, 2013, 8:29 AM
    • 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.
    | Sep. 30, 2013, 8:29 AM
  • Aug. 30, 2013, 1:08 PM
    • Brookfield Office Properties' (BPO -0.2%) tender to purchase all outstanding shares of the preferred stock of MPG Office Trust (MPG) for $25 in cash is extended until 12 midnight at the end of Monday September 9. It had originally been set to expire tonight.
    • BPO is acquiring MPG (the common stock) for $3.15 each.
    | Aug. 30, 2013, 1:08 PM
  • Apr. 25, 2013, 12:24 PM

    Curious action in the preferred shares of MPG Office Trust (MPG.PA +3.3%) finds them trading up to $27.89 even as the buyout agreement from BPO calls for a tender at $25 with none of the accrued dividends being paid. "The joys of investing in busted preferreds," a special situations investor laments. MPG +21.2%.

    | Apr. 25, 2013, 12:24 PM | 1 Comment