Brookfield Asset Management Offers to Buy the Rest of Brookfield REIT for $5.9 Billion

Brookfield Asset Management (NYSE: BAM) is looking to acquire the approximately 40% of Brookfield Property Partners (NASDAQ: BPY) it doesn't already own in a deal valued at around $5.9 billion.

Brookfield Asset Management is offering $16.50 per share in cash for the real estate investment trust (REIT) and plans to take it private. Unitholders, though, could also elect to redeem each of their shares for 0.40 of Brookfield Asset's Class A shares or 0.66 of Brookfield Property's preferred units that have a liquidation preference of $25 per unit. The cash value represents a 15% premium to Brookfield Property's closing price on Friday.

Brookfield Property Partners' ownership of shopping malls has caused it to struggle. Image source: Getty Images.

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Source Fool.com