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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

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JNJ

Johnson & Johnson

$136.12

-0.31 (-0.23%)

, UNH

UnitedHealth

$193.20

0.68 (0.35%)

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GS

Goldman Sachs

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MS

Morgan Stanley

$48.94

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CSX

CSX

$52.84

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PGR

Progressive

$48.98

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CMA

Comerica

$75.34

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GWW

Grainger

$182.36

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HOG

Harley-Davidson

$46.57

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SNV

Synovus

$46.65

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TTS

Tile Shop

$8.45

0.1 (1.20%)

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MSBI

Midland States

$33.03

-0.07 (-0.21%)

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MYL

Mylan

$38.18

0.23 (0.61%)

, AGN

Allergan

$198.41

-7.11 (-3.46%)

18:46
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Mylan CEO: 'Pleased' with court ruling on Allergan's Restasis patents »

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MYL

Mylan

$38.18

0.23 (0.61%)

AGN

Allergan

$198.41

-7.11 (-3.46%)

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NFLX

Netflix

$202.68

3.19 (1.60%)

18:44
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Netflix says seeing steady growth, great success for streaming »

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PCG

PG&E

$53.43

-4.29 (-7.43%)

18:42
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PG&E sees restoring service to all electric customers in CA affected by fires »

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CYTR

CytRx

$0.38

-0.0142 (-3.64%)

18:29
10/16/17
10/16
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Hot Stocks
CytRx granted listing extension pending results of stockholder vote »

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  • 17

    Oct

EADSY

Airbus

$22.75

-0.07 (-0.31%)

, BDRBF

Bombardier

$1.88

0.03 (1.62%)

18:27
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10/16
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18:27
Hot Stocks
Airbus and Bombardier announce C Series partnership »

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EADSY

Airbus

$22.75

-0.07 (-0.31%)

BDRBF

Bombardier

$1.88

0.03 (1.62%)

03/08/13
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IMDZ

Immune Design

$10.10

-0.85 (-7.76%)

18:16
10/16/17
10/16
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Conference/Events
Immune Design to host conference call »

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PG

Procter & Gamble

$93.14

0.1 (0.11%)

18:15
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Hot Stocks
Trian: P&G board election results 'too close to call' »

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  • 20

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AMZN

Amazon.com

$1,006.34

3.4 (0.34%)

18:14
10/16/17
10/16
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Periodicals
NJ leaders offer up to $7B in tax incentives to lure Amazon to Newark, WSJ says »

New Jersey Governor Chris…

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BDRBF

Bombardier

$1.88

0.03 (1.62%)

, EADSY

Airbus

$22.75

-0.07 (-0.31%)

18:09
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Periodicals
Bombardier in talks with Airbus over CSeries jet unit JV, WSJ reports »

Bombardier (BDRBF) is in…

BDRBF

Bombardier

$1.88

0.03 (1.62%)

EADSY

Airbus

$22.75

-0.07 (-0.31%)

03/08/13
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IPXL

Impax

$19.95

-0.85 (-4.09%)

17:55
10/16/17
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Hot Stocks
Impax jumps 6% in after-hours after WSJ says Amneal deal near »

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  • 09

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IPXL

Impax

$19.95

-0.85 (-4.09%)

17:51
10/16/17
10/16
17:51
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Periodicals
Impax and Amneal close to merger pact, WSJ says »

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  • 09

    Nov

AGII

Argo Group

$62.90

-0.25 (-0.40%)

17:36
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Hot Stocks
Argo Group provides preliminary Q3 loss estimate »

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FDEF

First Defiance Financial

$53.65

-0.25 (-0.46%)

17:34
10/16/17
10/16
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17:34
Earnings
First Defiance Financial reports Q3 EPS 92c, consensus 89c »

Reports Q3 NII $ $25.0M,…

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  • 17

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BRO

Brown & Brown

$48.97

-0.42 (-0.85%)

17:33
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Earnings
Brown & Brown reports Q3 EPS 53c, consensus 50c »

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  • 17

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ORIG

Ocean Rig UDW

$26.18

0.51 (1.99%)

17:31
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Ocean Rig holder BlueMountain intends to recommend company hire advisers »

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NFLX

Netflix

$202.68

3.19 (1.60%)

, IMDZ

Immune Design

$10.10

-0.85 (-7.76%)

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NFLX

Netflix

$202.68

3.19 (1.60%)

IMDZ

Immune Design

$10.10

-0.85 (-7.76%)

SAVE

Spirit Airlines

$33.47

-0.33 (-0.98%)

UNH

UnitedHealth

$193.20

0.68 (0.35%)

BMI

Badger Meter

$50.80

-0.6 (-1.17%)

SONC

Sonic

$24.80

0.42 (1.72%)

ABEO

Abeona Therapeutics

$16.70

0.6 (3.73%)

VICL

Vical

$2.86

0.04 (1.42%)

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FDC

First Data

$18.01

0.39 (2.21%)

17:28
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Hot Stocks
First Data CAO sells 3,996 common shares »

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ROSG

Rosetta Genomics

$1.00

-0.0479 (-4.57%)

17:28
10/16/17
10/16
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17:28
Syndicate
Breaking Syndicate news story on Rosetta Genomics »

Rosetta Genomics files to…

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HRS

Harris

$135.90

-0.66 (-0.48%)

17:27
10/16/17
10/16
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17:27
Hot Stocks
Harris awarded $100M government contract modification »

Harris Corp., Clifton,…

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BA

Boeing

$259.75

-0.99 (-0.38%)

17:26
10/16/17
10/16
17:26
10/16/17
17:26
Hot Stocks
Boeing awarded $240.2M government contract »

The Boeing Co., Oklahoma…

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  • 25

    Oct

PI

Impinj

$34.98

-0.71 (-1.99%)

17:22
10/16/17
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Hot Stocks
Impinj COO sells 7,000 common shares »

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