BAM??? Weird, i don't know were the Globe got it's info.
I assume it's accurante but when i go on SEDI.It still show BAM as holder of
9,913,974 share.They sold 13,568,010 shares.
In any event we all know that BAM as entered with a third party to sell 5.15 million more
shares to bring their holding to 4.75 million.
If the Globe info. is accurate, it would explain this short term weakness in the SP.
The Globe and Mail reports in its Friday edition that Brookfield Asset Management has sold more than $1.25-billion in shares of West Fraser Timber over the past 10 weeks, taking advantage of a fiery-hot market for wood and all manner of construction products. The Globe's David Milstead writes that the sales, totalling 14.8 million shares, have cut Brookfield's ownership of West Fraser from nearly 20 per cent to 7.3 per cent. In the past two weeks, Brookfield has sold nearly 1.24 million shares for $128-million. Brookfield is a new shareholder of West Fraser: It received its shares on Feb. 1, when West Fraser bought Norbord Inc. in an all-stock transaction. Brookfield owned 43 per cent of Norbord, and had three executives on the Norbord board. The sales represent an unwinding of one of Brookfield's longest-held positions. Brookfield can trace its stake back decades, when it was called Brascan Financial Corp. and it held a major position in Noranda Inc. In 1998, Noranda spun off its building-products division, calling it Nexfor Inc. In 2004, Nexfor did another spinoff and renamed itself Norbord. The sale is in keeping with Brookfield's strategy focusing on real estate, hydroelectricity and financial services.