RE:Funny.The "Independant" trustee committee was made up of the four directors ( paid $100000 for 4 meetings) who are not on the BPY Board. Given the fairness report's value at $31.50 to $34.50, which we have not seen yet, can you imagine any circumstance where these poor four souls would tell the Board to pay up the $34.50 price and keep the process clean? The genius within Brookfield though is they couldn't even make it to $33.00, exactly halfway between the reports conclusions, as they felt the worldly need to stick it to the shareholders for that extra .50.
In any case, when BAM takes all the BPY cash and treats the BPY guys the same way, we'll see how they like it. Watch your back boys, you're next.