Brookfield Property Partners L.P. BPY

BPY US$17.99 / BPYU US$18.58

[Vette08]

I can't believe the millions of shares being traded above US$16.50 is still short covering or pure speculation.....a sweetened bid of say 10-12% (ie US$18-$18.5) looks to be where we are heading....IMHO.

Still long,
Vette

[ChungasRevenge]

 BAM

[Vette08]

So the stock has gone ex-div at the end of February and BPY/BPYU are still trading as if there will be a sweetened offer to around US$18 per share....gotta believe any shorts have been cleared out by now so they would not have to pay the 33 cent dividend? I looked at the BOX.UN take-private timeline from 2017 and I believe the offer was press released on Jan 23 was and a definitive agreement was

[ferret_ca]

I'm still holding mine too, my guess is 60% chance or more of a sweetened offer if past history is any indicator, plus any accrued interest would be a bonus, I just consider it the same as holding cash for now with the chance of maybe another 5-8% in the near term.  I supect we should hear something soon although they've been busy with the ipl take over too which was just rejected by

[Vette08]

So the definitive aggrement came in early April as expected (April 1 to be exact - lol!). US$18.17 is right in line with how BPY and BPYU were trading.    Selling into the BAM offer today....been a wild ride! Good luck to you all! Vette

[ace1mccoy]

Yup , I'll be selling too . For sure wild ride . See you on the next one . Here's the official PR       Brookfield Asset Management Reaches Agreement with Brookfield Property Partners to Acquire 100% of BPY Units

[rad10]

Good call Vette.  Just tidied up the position. Cheers. Rad

[Vette08]

As it turned out, I kept a position as it looks like Mr Market is going to let us trade BPY a bit more.  I thought for sure it would trade up closer to the deal price.  2o millions shares traded today and many shareholders said good bye.  There could be another $0.77 of value to be realized over the next few months as management expects closing in the 3rd quarter.  That is like

[NPCexe]

This is BS, I don't want to sell! UGH we are getting screwed here. The value of this company is much higher. Unbelievable

[Vette08]

Hi NP, The market for the month or so has been telling us where the deal was heading.....$18.17 is very much in the range, As for the BPY NAV of US$28 disclosed by management relative to the valuation determined by Lazard being between $14-$18.5 per share is a complete disgrace and is a hit to the credibility of BPY management for sure.  Lazard basically laughed at management by even

[NPCexe]

Hi Vette, I agree this company's valuation will take several years before it reaches its true potential, however I was hoping we could keep the pressure on BAM to pay a bit more for the privilege of taking it private. Once covid is over, we will realize it was a big mistake. So what's the best way out of here now? 50% cash and the rest shares of what, preferreds or BAM?

[Vette08]

Hi NP, I am happy to wait for the US$18.17 per share and I am indifferent to the mix of cash, BAM stock and/or the preferred shares when the deal closes sometime in Q3.   I was WRONG to suggest in one of my posts that there may be another dividend of US$0.33 per share.  The release stated way down below that there will ne no more dividends paid out (which I am sure the CFO of BPY