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BBU

Brookfield Business Partners

$31.08

0.08 (0.26%)

, BAM

Brookfield

$40.14

0.02 (0.05%)

16:40
09/19/17
09/19
16:40
09/19/17
16:40

Brookfield Business Partners announces $600M equity offering

Brookfield Business Partners (BBU) announced that it has agreed to issue 6.67M limited partnership units, on a bought deal basis, to a syndicate of underwriters co-led by TD Securities, Citigroup, CIBC Capital Markets, Morgan Stanley and RBC Capital Markets at a price of $30.00 per unit for gross proceeds of approximately $200M. In addition, Brookfield Asset Management (BAM) and certain of its related entities will, concurrent with the offering, purchase, directly or indirectly, 6.95M redeemable-exchangeable units of Brookfield Business Partners' holding limited partnership at the offering price, for a total amount of approximately $200M. Brookfield Business Partners will also, concurrent with the offering, issue 6.67M units at the offering price by way of private placement to OMERS, the pension plan for Ontario's municipal employees, for gross proceeds of approximately $200M. The aggregate gross proceeds of the offering and the concurrent private placements will be approximately $600M. Brookfield Business Partners intends to use the net proceeds from the offering, together with the proceeds of the concurrent private placements, for general corporate purposes, including the funding of previously announced transactions and future growth opportunities. The offering and the concurrent private placements are expected to close on or about September 26.

BBU

Brookfield Business Partners

$31.08

0.08 (0.26%)

BAM

Brookfield

$40.14

0.02 (0.05%)

BBU Brookfield Business Partners
$31.08

0.08 (0.26%)

11/16/16
FBCO
11/16/16
INITIATION
Target $29
FBCO
Outperform
Brookfield Business Partners initiated with an Outperform at Credit Suisse
Credit Suisse analyst Nick Stogdill initiated Brookfield Business Partners with an Outperform and a $29 price target.
BAM Brookfield
$40.14

0.02 (0.05%)

01/19/17
SBSH
01/19/17
INITIATION
Target $39
SBSH
Buy
Brookfield initiated with a Buy at Citi
Citi analyst William Katz started Brookfield Asset Management with a Buy rating and $39 price target. The analyst believes investors may be overlooking the "sizable" growth opportunities within Brookfield's Asset Management business.
01/19/17
01/19/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Nike (NKE) and lululemon (LULU) were initiated with an Underperform at CLSA, while the firm initiated Under Armour (UA, UAA) with a Buy. 2. Comcast (CMCSA) was initiated with a Buy at HSBC, while Charter (CHTR) was initiated with a Hold. 3. Brookfield (BAM) initiated with a Buy at Citi. 4. Apogee Enterprises (APOG) initiated with a Buy at Craig-Hallum. 5. Infinera (INFN) initiated with a Neutral at Piper Jaffray. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/10/17
RBCM
02/10/17
DOWNGRADE
RBCM
Outperform
Brookfield downgraded to Outperform from Top Pick at RBC Capital
RBC Capital analyst Neil Downey downgraded Brookfield to Outperform and raised its price target to $41 from $40 given shares have risen 11% this year.
02/14/17
UBSW
02/14/17
UPGRADE
Target $11.5
UBSW
Neutral
TerraForm Power upgraded to Neutral from Sell at UBS
UBS analyst Julien Dumoulin-Smith upgraded TerraForm Power (TERP) to Neutral saying the risk/reward is now balanced with shares at his unchanged price target of $11.50. Further share moves are largely dependent on the company's ongoing strategic review, including prospects for an acquisition, Dumoulin-Smith tells investors in a research note. He believes the company's fundamentals are intact and feels Brookfield's (BAM) cash bids of $11.50 per share for TerraForm Power alone provides a support level for shares while the $12 per share level including TerraForm Global (GLBL) provides "some viable upside."

TODAY'S FREE FLY STORIES

NAVG

Navigators

$59.40

8.7 (17.16%)

08:39
02/20/18
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Downgrade
Navigators rating change  »

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XENE

Xenon Pharmaceuticals

$3.60

-0.025 (-0.69%)

08:37
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Hot Stocks
Xenon Pharmaceuticals initiates Phase 1 clinical trial of XEN901 »

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CHMG

Chemung Financial

$43.90

0.09 (0.21%)

08:37
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WMT

Walmart

$104.78

1.55 (1.50%)

08:36
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Hot Stocks
Walmart sees ecommerce losses 'about the same' in FY19 vs. FY18 »

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HII

Huntington Ingalls

$265.70

10.31 (4.04%)

08:36
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  • 21

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ECL

Ecolab

$131.49

-0.28 (-0.21%)

08:35
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Earnings
Ecolab sees FY18 adjusted EPS $5.25-$5.45, consensus $5.34 »

The 2018 outlook shown…

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GPC

Genuine Parts

$99.83

-1.08 (-1.07%)

08:35
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Hot Stocks
Genuine Parts reports Q4 sales for Automotive Group up 16.7% »

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  • 20

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IMAX

Imax

$22.60

-0.3 (-1.31%)

08:34
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Imax announces record $35M global debut of Marvel Studios' Black Panther »

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  • 27

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EXPD

Expeditors

$64.12

-0.07 (-0.11%)

08:33
02/20/18
02/20
08:33
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08:33
Earnings
Expeditors reports Q4 EPS 92c, consensus 63c »

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ADI

Analog Devices

$86.09

0.69 (0.81%)

08:33
02/20/18
02/20
08:33
02/20/18
08:33
Upgrade
Analog Devices rating change  »

Analog Devices upgraded…

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  • 28

    Feb

GPC

Genuine Parts

$99.83

-1.08 (-1.07%)

08:32
02/20/18
02/20
08:32
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08:32
Earnings
Genuine Parts sees FY18 EPS $5.60-$5.75, consensus $5.93 »

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  • 20

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  • 07

    Mar

ECL

Ecolab

$131.49

-0.28 (-0.21%)

08:31
02/20/18
02/20
08:31
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08:31
Earnings
Ecolab reports Q4 adjusted EPS $1.39, consensus $1.39 »

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SMP

Standard Motor

$48.20

0.3 (0.63%)

08:31
02/20/18
02/20
08:31
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08:31
Earnings
Standard Motor reports Q4 cont ops EPS 54c, consensus 38c »

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  • 20

    Feb

AAPL

Apple

$172.43

-0.56 (-0.32%)

08:31
02/20/18
02/20
08:31
02/20/18
08:31
Technical Analysis
Technical Take: Apple slips in early trading »

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  • 23

    Feb

GPC

Genuine Parts

$99.83

-1.08 (-1.07%)

08:30
02/20/18
02/20
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Earnings
Genuine Parts reports Q4 adjusted EPS $1.19, consensus $1.05 »

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  • 20

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  • 07

    Mar

GPS

Gap

$33.27

-0.06 (-0.18%)

08:30
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Gap announces departure of Gap brand President and CEO Jeff Kirwan »

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  • 01

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ANY

Sphere 3D

$2.33

0.0999 (4.48%)

, FALC

FalconStor

$0.19

0.003 (1.65%)

08:30
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Options
Two option delistings on February 20th »

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ANY

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$2.33

0.0999 (4.48%)

FALC

FalconStor

$0.19

0.003 (1.65%)

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RUSHA

Rush Enterprises

$42.77

-0.325 (-0.75%)

08:30
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Recommendations
Rush Enterprises analyst commentary  »

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08:29
02/20/18
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General news
Stocks point to lower start to week as Walmart weighs on Dow »

Stock futures are…

GOOD

Gladstone

$17.65

0.24 (1.38%)

08:28
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Hot Stocks
Gladstone announces sale of Arlington, TX $5.6M »

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AAN

Aaron's

$43.40

-0.39 (-0.89%)

, LOW

Lowe's

$96.31

-0.2 (-0.21%)

08:28
02/20/18
02/20
08:28
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08:28
Recommendations
Aaron's, Lowe's analyst commentary  »

Aaron's Progressive…

AAN

Aaron's

$43.40

-0.39 (-0.89%)

LOW

Lowe's

$96.31

-0.2 (-0.21%)

03/08/13
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  • 28

    Feb

  • 07

    Mar

LVMUY

LVMH

$61.94

0.68 (1.11%)

08:27
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Hot Stocks
LVMH names Serge Brunschwig as Chairman and CEO of Fendi »

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WAB

Wabtec

$77.27

2.66 (3.57%)

08:26
02/20/18
02/20
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Earnings
Wabtec reports Q4 adj. EPS 90c, consensus 92c »

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ATNX

Athenex

$16.66

-0.11 (-0.66%)

08:25
02/20/18
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Hot Stocks
Athenex announces Phase II clinical study results for KX2-391 ointment »

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  • 21

    Feb

08:25
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General news
Fedspeak is backloaded during the week: »

Fedspeak is backloaded…

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