SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Regarding Whether the Sale of Teekay Offshore Partners L.P. to Brookfield Business Partners L.P. is Fair to Shareholders

NEW YORK, Oct. 08, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:

To: All Persons or Entities who purchased Teekay Offshore Partners L.P. ("Teekay" or the "Company") TOO stock prior to October 1, 2019.

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Teekay to Brookfield Business Partners L.P. and certain of its affiliates and institutional partners (collectively, "Brookfield Consortium"). Under the terms of the deal, the Brookfield Consortium will acquire by merger all of the outstanding publicly held common units representing limited partner interests of Teekay not already held by the Brookfield Consortium in exchange for $1.55 in cash per common unit. To learn more about the action and your rights, go to:

https://www.zlk.com/mna/teekay-offshore-partners-l-p

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

The Teekay merger investigation concerns whether the Board of Teekay breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Brookfield Consortium is underpaying for Teekay shares, thus unlawfully harming Teekay shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com