Brookfield Property: Soars on take-private offer from Brookfield Asset Management

Waverunner Capital

04/01/2021 15:30

** Shares of Brookfield Property Partners LP  BPY.O  jump
over 16% to $16.83
    ** Canada's Brookfield Asset Management Inc  BAMa.TO  says
it has offered to take its commercial real estate arm, BPY,
private in a $5.9 bln deal  urn:newsml:reuters.com:*:nL4N2JF2NN
    ** BAMa said it would offer $16.50 for each Brookfield
Property share it does not already own, a premium of 14% to
Thursday's close; BAMa shares down 3%
    ** The privatization will allow BAMa to have greater
flexibility in operating BPY's portfolio - Nick Goodman, CFO of
Brookfield Asset Management
    ** BPY stock up 16.4% YTD, while BAMa shares have lost ~3% 

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))