|Over a week ago|
Brookfield Business upgraded to Outperform from Neutral at Credit Suisse » 05:5306/1106/11/21
Credit Suisse analyst…
Credit Suisse analyst Andrew Kuske upgraded Brookfield Business Partners to Outperform from Neutral with an unchanged price target of $52. The analyst sees a more favorable risk/reward balance following the stock's 10% pullback. "We are closer in time to large scale monetizations and the continued possibility of meaningful deployments," Kuske tells investors in a research note. The analyst adds that the scale of an economic recovery also favors Brookfield Business Partners' exposure.
Brookfield Business Partners exploring sale of Greenergy, Bloomberg reports » 10:1805/2805/28/21
Brookfield Business Partners is working with Citigroup and HSBC to gauge interest in its U.K.-based biofuel provider Greenergy, Eyk Henning and Aaron Kirchfeld of Bloomberg report, citing people familiar with the matter. Deliberations are at an early stage, the sources added.
|Over a month ago|
Brookfield Business Partners initiated with a Buy at Industrial Alliance » 05:1505/2105/21/21
Industrial Alliance initiated coverage of Brookfield Business Partners with a Buy rating.
Brookfield Business downgraded to Neutral on valuation at Credit Suisse » 06:4105/1005/10/21
Credit Suisse analyst…
Credit Suisse analyst Andrew Kuske downgraded Brookfield Business Partners to Neutral from Outperform with a price target of $52, up from $50. The analyst cites valuation for the downgrade following the "recent impressive price performance."
Brookfield Business Partners downgraded to Neutral from Outperform at Credit Suisse » 06:3405/1005/10/21
Credit Suisse analyst…
Credit Suisse analyst Andrew Kuske downgraded Brookfield Business Partners to Neutral from Outperform with a price target of $52, up from $50.
Brookfield Business Partners price target raised to C$60 from C$53 at RBC Capital » 11:4405/0705/07/21
RBC Capital analyst…
RBC Capital analyst Geoffrey Kwan raised the firm's price target on Brookfield Business Partners to C$60 from C$53 and keeps an Outperform rating on the shares.
Sagen MI Canada, Brookfield Business Partners close arrangement transaction » 09:0604/0104/01/21
Sagen MI Canada (GMICF)…
Sagen MI Canada (GMICF) and Brookfield Business Partners L.P. (BBU) are pleased to announce the completion of the previously announced plan of arrangement pursuant to which BBU, together with certain of its affiliates and institutional partners, purchased all of the outstanding common shares of the Company that were not already owned by Brookfield at a price of C$43.50 in cash per Common Share. The Common Shares are expected to be de-listed from the Toronto Stock Exchange at the close of business on April 6, 2021. The Company's outstanding Class A Preferred Shares, Series 1 will remain listed on the TSX, and the Company will remain a reporting issuer in each of the provinces and territories of Canada. In connection with the closing of the Transaction, all of the Common Shares were exchanged in a reorganization transaction pursuant to which 1,000,000 Class A Common Shares were issued to Brookfield, resulting in no Common Shares outstanding and Brookfield holding all of the Class A Common Shares. The Class A Common Shares will not be listed on the TSX.
|Over a quarter ago|
Brookfield Business Partners reports Q4 FFO $1.97, consensus $1.66 » 06:5202/0502/05/21
Reports Q4 revenue…
Reports Q4 revenue $10.05B, consensus $11.19B. "Our business was resilient in 2020 reflecting the quality of the companies we own and our disciplined approach to risk management which served us well in a challenging operating environment," said CEO Cyrus Madon. "We remain focused on building value in our business and are well positioned with strong liquidity to execute on growth opportunities as investment activity continues to accelerate."
Brookfield Business Partners initiated with an Outperformer at CIBC » 06:0910/2910/29/20
CIBC analyst Nik Priebe…
CIBC analyst Nik Priebe initiated coverage of Brookfield Business Partners with an Outperformer rating and $40 price target. The analyst views the shares as a "good vehicle for public market investors to obtain exposure to private equity returns." The "resiliency of portfolio companies" should enable Brookfield Business to navigate a challenging economic environment, Priebe tells investors in a research note.
Brookfield Business Partners to acquire remaining shares of Genworth MI Canada » 07:4710/2610/26/20
Brookfield Business Partners (BBU) announced it has entered into an arrangement agreement to acquire all of the outstanding common shares of Genworth MI Canada, now operating as Sagen MI Canada, not already owned by Brookfield. The Company is the largest private sector residential mortgage insurer in Canada, providing mortgage default insurance to Canadian residential mortgage lenders, in turn making homeownership more accessible to first-time homebuyers. Under the terms of the Arrangement Agreement, Brookfield, which currently owns an approximate 57% controlling interest in the Company, will purchase all of the remaining outstanding common shares of the Company at a price of C$43.50 per share. The purchase price represents a premium of approximately 22% to the Company's closing share price on the Toronto Stock Exchange on October 23, 2020, the last trading day prior to the announcement, and a premium of approximately 25% to the 20-day volume weighted average price on that date. The Company's board of directors, other than certain conflicted directors, unanimously approved the Arrangement Agreement following a unanimous recommendation of a special committee of independent directors of the Board. The Transaction will be implemented by way of and subject to a court-approved plan of arrangement under the Canada Business Corporations Act. Closing of the Transaction is subject to shareholder approval at a special meeting of the Company expected to be held in late December 2020. The Transaction is also subject to court approval, approval by the federal Minister of Finance, and the satisfaction of other customary closing conditions. The Transaction is expected to close in the first half of 2021. Following closing, Brookfield and the Company intend to continue to satisfy the public float requirement of the Insurance Companies Act through the issuance of a new class of publicly-traded voting preferred shares of the Company, which preferred shares are intended to be issued prior to or concurrently with closing of the Transaction. A special resolution of shareholders to create this new class of voting preferred shares of the Company will be presented to Company shareholders for approval at the Special Meeting. Upon closing of the Transaction, the aggregate consideration payable by Brookfield to holders of common shares of the Company will be approximately $1.2B. Brookfield Business Partners intends to fund approximately $460M and for institutional partners to fund the balance of the purchase price.