Newspaper article The Canadian Press

Brookfield Asset Management to Acquire 62% of Oaktree Capital Management

Newspaper article The Canadian Press

Brookfield Asset Management to Acquire 62% of Oaktree Capital Management

Article excerpt

Brookfield to acquire 62% of Oaktree

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TORONTO - Brookfield Asset Management plans to acquire roughly 62 per cent of global investment manager Oaktree Capital Management in a cash-and-stock deal.

As part of the transaction, Brookfield will acquire all outstanding Oaktree Class A units for either US$49 in cash or 1.0770 Class A shares per unit.

The companies say in a joint release that this represents a premium of 12.4 per cent per Oaktree Class A unit based on the closing prices of both companies on March 12.

Oaktree shareholders will be able to choose either cash or stock compensation, but the total overall amount paid by Brookfield will consist of 50 per cent in cash and 50 per cent in shares.

The cash-and-stock deal is valued at more than US$4 billion. …

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