Current Price – $19.37
Tender Price – $19.0 – $21.0
Upside – 9% (if priced at the upper limit)
Expiration Date – March 25th, 2019
This idea was shared by Brian
This is similar tender to BPY (same economic interest and distributions, just a different legal entity) that was just posted on the site. So please refer to that post for further details.
BPR launched $95m dutch tender at $19-$21 with odd-lot provision. Shares currently trade close to the lower limit. Tender is for approximately 4.5% of the company. Brookfield Asset Management owns 6% of the stock and does not intend to tender. Proration is likely to be high.