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Brookfield Property Partners Proposes to Acquire Brookfield Office Properties at $19.34/Share

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Brookfield Property Partners Completes Successful Tender Offer, Takes up Additional Common Shares of Brookfield Office Properties

Brookfield Property Partners L.P. (NYSE: BPY), BPO shareholders to receive a 15% premium to current trading price and a 17% premium to 30-day volume-weighted average price on the New York Stock Exchange BPO shareholders' dividend per share to increase by 79% BPO shareholders to realize an 18% increase in IFRS book value per share Combined entity will be one of the largest global commercial real estate companiesUS$ unless otherwise specified.Brookfield Property Partners L.P. (NYSE: BPY) (TSX: BPY.UN) ("Brookfield Property Partners" or "BPY") today announced that it proposes to acquire Brookfield Office Properties Inc. (NYSE: BPO) (TSX: BPO) ("BPO") through a tender offer for "any or all" of the common shares of BPO that it does not currently own (the "Offer") for consideration value of $19.34 per common share of BPO. Each BPO shareholder can elect to receive consideration per BPO common share of either 1.0 limited partnership unit of Brookfield Property Partners or $19.34 in cash, subject in each case to pro-ration based on a maximum of 174 million BPY limited partnership units (67% of the total value of shares tendered to the Offer) and a maximum cash consideration of $1.7 billion

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Posted-In: News M&A


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