Brookfield Office
Properties Inc. BPO acknowledges the news release
issued by Brookfield Property Partners L.P. BPY
earlier today announcing its proposal to acquire Brookfield Office
Properties by way of a tender offer for "any or all" of the common
shares of Brookfield Office Properties that it does not own. Under
its proposal, Brookfield Property Partners would offer Brookfield
Office Properties shareholders the ability to elect to receive for
each common share either $19.34 in cash or 1.0 limited partnership
unit of Brookfield Property Partners, subject in each case to
pro-ration based on a maximum cash consideration of $1.7 billion and
a maximum of 174 million Brookfield Property Partners limited
partnership units.
The board of directors of Brookfield Office Properties has
established a special committee to review and consider the proposal.
Shareholders of Brookfield Office Properties do not need to take any
action with respect to the proposal at this time.
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