Previous offer October 20142017 marks the third time the parent company tried to acquire the remaining shares of Brookfield Canada.Office Prop.
BPY offered about $26 CDN in 2014 and walked away.
In October 2014 RBC said :
"...the fairness opinion of RBC Capital Markets, the firm retained by the special committee, which said fair market value was in $32.50-to-$38.00 per share range."
https://business.financialpost.com/news/fp-street/can-history-be-a-guide-for-whether-brookfield-asset-management-will-raise-its-offer