Brookfield Property Partners L.P. BPY

Spoke to a TD specialist about this $12 deal

[NPCexe]

She said she read the article 3 times and still didn't understand the details exactly.. What's stopping someone from converting their shares to units for $12 per unit and then just rebuy BPY at the lower SP? She couldn't even answer that haha

[Lacas24]

Well. That's speak very highly of this "TD Specialist". Lol What is there to understand? There iare 2 scenarios in here. 1. The price of the common stock meets the price of the buyout price on Aug 12. Or being very close to it. 2. All together 85 million shares will be taken out from the market. Nearly 18% of the total shares in circulation. If the price not even close to 12$ then

[TickBomb]

If there is an oversubscription, then you might not see the whole $12.... then you may see a flood of shares hit after the SIB...  

[Lacas24]

Not sure I understand your reasoning. It doesn't make much sense.

[Sapho]

They have not announced of purchasing and tendering the shares. BPY announcment is just an intent,  TD advised me the same. We need more PR from BPY

[Lacas24]

Intent or not Brookfield is not going to back out from their offer. That would severely damage their reputation.

[TickBomb]

It's a prorated tender not an auction this time.  So it will be at $12, but an oversubscription would leave arbatrageurs left with shares: "If greater than 74,166,670 Units are properly tendered and not properly withdrawn pursuant to the Offer, then we will purchase Units on a pro- rata basis according to the number of Units properly tendered and not properly withdrawn (with

[Capharnaum]

As far as I remember, it was the same the last time, if oversubscribed. They also give themselves some room to modify the offer, so if they get it fully susbscribed, they could get more money and increase the limit.

[Lacas24]

I think most of you taking this buyout too seriously focusing on the wrong thing. Everyone so exited about a measly few percent profit but the big picture is that 18% of shares will end up in a safe hand in of BAM and private Investors with close ties to Brookfield. These shares will reduce the float again and not going to be used by short sellers to borrow.

[SNAKEYBOY]

It wont matter. Other REITS like HR and Dream Office have massive insider ownership, especially Dream Office, at 35%.  As long as its a publically traded entity the traders and  MM can bid it to whatever they want!

[Lacas24]

It won't matter that BAM will own 63%? Lol Also did you just compared that trash HR REIT or small potato Dream office to BAM? You have a lot to learn about institutional and insider ownership importance.

[SNAKEYBOY]

If BAM/BPY is so hot why was it on a MASSIVE DOWNTREND BEFORE covid19 even hit? There are low quality stripmalls that sold off less than BPY

[BlueJay2020]

I think part of the answer is a new-found aversion to diversified REITS, which I don't really get to be honest.