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BAM

Brookfield

$53.97

-0.01 (-0.02%)

, OAK

Oaktree Capital

$51.58

-0.01 (-0.02%)

08:28
09/30/19
09/30
08:28
09/30/19
08:28

Brookfield Asset Management completes acquisition of 61.2% of Oaktree Capital

Brookfield Asset Management (BAM) and Oaktree Capital Group (OAK) announced the completion of Brookfield's acquisition of approximately 61.2% of Oaktree's business. In connection with the transaction, Brookfield acquired all of the outstanding Oaktree class A units and approximately 20% of the units of Oaktree Capital Group Holdings held by the founders, senior management, and current and former employees of Oaktree. The purchase price per unit was, at the election of such unitholders, $49.00 in cash or 1.0770 class A shares of Brookfield. OCGH is the holder of all outstanding class B units of Oaktree as well as a direct interest in certain of Oaktree's operating entities. Oaktree class A unitholders' and OCGH unitholders' elections were made on a per unit basis and subject to proration such that the total consideration paid by Brookfield was 50% cash and 50% Brookfield class A shares. Based on the elections received, the share consideration was oversubscribed and former holders of class A units and participating OCGH units who elected to receive share consideration with respect to all or a portion of their units will instead receive approximately 0.6173 class A shares of Brookfield and $20.92 in cash with respect to each such unit. The election results remain subject to the limitations and proration procedures described in the consent solicitation statement/ prospectus of Brookfield and Oaktree delivered to Oaktree unitholders in connection with the transaction. The aggregate amount of cash payable to Oaktree class A unitholders and OCGH unitholders in the transaction is approximately $2.4B. Approximately 52.8 million class A shares of Brookfield were issued in the transaction. In connection with the closing of the transactions, Oaktree class A units were delisted from the New York Stock Exchange.

BAM

Brookfield

$53.97

-0.01 (-0.02%)

OAK

Oaktree Capital

$51.58

-0.01 (-0.02%)

  • 14

    Nov

BAM Brookfield
$53.97

-0.01 (-0.02%)

04/25/19
FBCO
04/25/19
DOWNGRADE
Target $46
FBCO
Neutral
Brookfield Infrastructure downgraded to Neutral at Credit Suisse
As previously reported, Credit Suisse analyst Andrew Kuske downgraded Brookfield Infrastructure to Neutral from Outperform, with a $46 price target, given the more limited return to target and the balancing of funding needs. The analyst notes that the most interesting near-term issue facing Brookfield Infrastructure Partners is pending close for Brookfield's (BAM) Infrastructure Fund IV likely landing around $20B.
08/22/19
RBCM
08/22/19
NO CHANGE
Target $28
RBCM
Outperform
Pattern Energy price target raised to $28 from $24 at RBC Capital
RBC Capital analyst Shelby Tucker raised his price target on Pattern Energy (PEGI) to $28 and kept his Outperform rating after the company has recently confirmed press speculation that it is working with a financial adviser to respond to acquisition interest from third parties that include Brookfield Asset Management (BAM). The analyst contends that a buyer could "uncover hidden value" in the company's Pattern Development pipeline investment, though he notes that the limited public disclosure makes it hard to value. Tucker still believes that a take-out price on Patter Energy at $28-$30 per share is "achievable".
09/26/19
09/26/19
NO CHANGE

Brookfield to host investor day
Investor day to be held in New York on September 26 at 10 am. Reference Link
09/27/19
RBCM
09/27/19
NO CHANGE
RBCM
Outperform
Brookfield Infrastructure, Asset Management price targets raised at RBC Capital
RBC Capital analysts Neil Downey and Robert Kwan raised their price targets on Brookfield Asset Management (BAM) and Brookfield Infrastructure Partners (BIP) to $57 from $54 and to $53 from $50 respectively after attending the investor day presentation this week. Downey cites Brookfield Asset Management continuing its "very strong offensive positioning" with "excellent" fundraising momentum and significant liquidity capital commitments. Kwan is also positive on Brookfield Infrastructure Partners's Brookfield Infrastructure Partners' capital recycling and "above-average" growth rate expected to be funded on a "conservative basis."
OAK Oaktree Capital
$51.58

-0.01 (-0.02%)

03/14/19
MSCO
03/14/19
DOWNGRADE
Target $49
MSCO
Equal Weight
Oaktree Capital downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Michael Cyprys downgraded Oaktree Capital (OAK) to Equal Weight from Overweight as he sees relatively limited deal-related risk and assumes the company's majority stake sale deal with Brookfield (BAM) will close.
03/14/19
WELS
03/14/19
NO CHANGE
Target $49
WELS
Market Perform
Oaktree Capital price target raised to $49 from $44 at Wells Fargo
Wells Fargo analyst Christopher Harris raised his price target for Oaktree Capital (OAK) to $49 form $44 after the company and Brookfield Asset Management (BAM) announced an agreement for Brookfield to acquire 62% of the Oaktree business. Upon completion of the $4.7B transaction, which is expected to close in Q3, Oaktree Capital would no longer be publicly traded. Harris reiterates a Market Perform rating on Oaktree Capital's shares.

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Disney

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Myovant Sciences

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MSFT

Microsoft

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ALC

Alcon

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$NSD

NASDAQ Market Internals

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$NYE

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INFN

Infinera

$6.63

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HD

Home Depot

$226.30

-12.68 (-5.31%)

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URBN

Urban Outfitters

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BRY

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BRY

Berry Petroleum

$10.23

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, HAL

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HAL

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BHGE

Ticker changed to BKR

$0.00

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CJ

C&J Energy Services

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CHK

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DVN

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PAGS

PagSeguro Digital

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ET

Energy Transfer LP

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BHE

Benchmark Electronics

$33.59

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KSS

Kohl's

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Downgrade
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FB

Facebook

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