RE:Some thoughts on today's transactionWhile the deal is with Oaktree it really is with BAM since Brookfield is majority owner of Oaktree. This deal is buying a piece of a piece of AECON. BAM doen't want a fraction of a piece of a comapny should they decide to excercise their 27.5% convertable preferreds. So why would BAM be interested in AECON?
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, perpetualstrategies 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.
BAM showed up at AECON's door with a sizable chunk of ca$h. Don't be surprised if this is the first step in a Prelude To A Takeover.