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Brookfield Asset Management Voting Ord Shs Class A T.BN.PF.B


Primary Symbol: T.BAM Alternate Symbol(s):  T.BN.PF.C | BAMGF | BKFOF | BRCFF | BROXF | T.BN.PF.D | BAMKF | BKFPF | T.BN.PR.K | T.BN.PF.E | T.BN.PR.M | T.BN.PF.F | T.BN.PR.N | BRFPF | BRPSF | BKFAF | T.BN.PF.G | T.BN.PR.R | T.BN.PF.H | BKAMF | T.BN.PR.T | BKFDF | T.BN.PF.I | T.BN.PR.X | T.BN.PF.J | BXDIF | T.BN.PR.Z | T.BN.PF.K | T.BN.PF.A | BAM | T.BN.PF.L | T.BN.PR.B

Brookfield Asset Management Ltd. is primarily engaged in providing alternative asset management services. The Company provides its services through an ownership interest in an alternative asset management business, which is carried on by Brookfield Asset Management Inc. (Brookfield) and its subsidiaries. Its products have three categories, which include long-term private funds, perpetual strategies and liquid strategies. The Company's wholly owned subsidiaries include 2451634 Alberta Inc. and Brookfield UK Employee Co Limited. Brookfield is a global alternative asset manager with assets under management across real estate, infrastructure, renewable power and transition, private equity and credit. Brookfield offers a range of alternative investment products to investors around the world, including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.


TSX:BAM - Post by User

Post by retiredcfon Nov 10, 2022 11:37am
485 Views
Post# 35088611

Market Movers

Market MoversOn the Rise

Canada’s Brookfield Asset Management Inc.  soared on news it is leading a consortium in a US$11.8-billion buyout offer for Origin Energy Ltd, Australia’s no.2 power producer and energy retailer.

If successful, the takeover would rank as one of the biggest private equity-backed buyouts of an Australian company, and would be the largest deal in the country this year, Refinitiv data shows.

 

Brookfield and its partner MidOcean Energy, backed by private equity firm EIG, both said they see big opportunities in Australia to invest in the transition to cleaner energy, and see Origin’s assets as the way to get in.

“Together, Brookfield and Origin can support Australia’s multi-decade transition journey and accelerate our progress towards its emissions-reduction targets,” Brookfield’s Asia Pacific Chief Executive Officer Stewart Upson said in a statement.

The deal requires Australian Competition and Consumer Commission (ACCC) and Foreign Investment Review Board (FIRB) approval to proceed.

Origin opened its books to the consortium after it raised its offer to A$9 per share in cash, a near 55-per-cent premium to Origin’s last close of A$5.81. The company said it would recommend shareholders vote in favor of the proposal if no higher bid emerges.

“It’s a knockout offer in terms of price, a 55-per-cent premium,” said Andy Forster, senior investment officer at Argo Investments, Origin’s sixth largest shareholder, according to Refinitiv.

“There’s a bit of uncertainty around government intervention and what that means in terms of energy markets. It’s a short term uncertainty - but they’re obviously taking a long term view.”

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