Author Topic: BAM - Brookfield Asset Management  (Read 541037 times)

Jerry Capital

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Re: BAM - Brookfield Asset Management
« Reply #420 on: March 27, 2018, 10:40:56 AM »
Shitty deal for who?

Certainly good for BAM shareholders.
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Mephistopheles

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Re: BAM - Brookfield Asset Management
« Reply #421 on: March 27, 2018, 11:11:25 AM »
Shitty deal for who?

Certainly good for BAM shareholders.

I meant for GGP shareholders, forgot this isn't the GGP thread

gokou3

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Re: BAM - Brookfield Asset Management
« Reply #422 on: March 27, 2018, 12:15:47 PM »
Not very often that the stock prices of both the target and the acquirer (and the sponsor BAM) dropped after deal announcement....  and of course I own all 3.  ::)

karthikpm

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Re: BAM - Brookfield Asset Management
« Reply #423 on: March 27, 2018, 03:34:29 PM »
Not very often that the stock prices of both the target and the acquirer (and the sponsor BAM) dropped after deal announcement....  and of course I own all 3.  ::)

+1

I was surprised by that too.

Spekulatius

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Re: BAM - Brookfield Asset Management
« Reply #424 on: March 27, 2018, 03:39:04 PM »
Not very often that the stock prices of both the target and the acquirer (and the sponsor BAM) dropped after deal announcement....  and of course I own all 3.  ::)

+1

I was surprised by that too.

Well that happens when the market goes down.
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vince

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Re: BAM - Brookfield Asset Management
« Reply #425 on: March 27, 2018, 03:46:27 PM »
racemize, can u be more specific in what you mean with respect to the 8% please, im a little slow today

racemize

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Re: BAM - Brookfield Asset Management
« Reply #426 on: March 27, 2018, 06:13:01 PM »
racemize, can u be more specific in what you mean with respect to the 8% please, im a little slow today

Sure, so the cash portion of the deal is $9.5 billion.  The equity portion is 254 million shares of BPY (to be BPR REIT), which is worth 254*19.19 (closing price) = $4.9 billion.  The ratio of those are 66%/34%.  Adjusting this down to per share by assuming everyone gets a prorated version: 66%*23.5+34%*19.19 = $22.03.  $22.03/20.08 = 1.097 = 9.7% spread now.

The math above changes based on the share price, so when BPY was cheaper earlier today the spread was lower.

Honestly seems pretty good to me.

vince

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Re: BAM - Brookfield Asset Management
« Reply #427 on: March 28, 2018, 08:14:44 AM »
Thanks

John Hjorth

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Re: BAM - Brookfield Asset Management
« Reply #428 on: April 02, 2018, 02:31:49 PM »
BAM 2017 Annual Report out on 29th March 2018.

A lot to chew on. I'm not done yet.

-Unrealized Carried Interest Net up from 291M at YE2016 to 928M at YE2017! [p. 5.]
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Spekulatius

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Re: BAM - Brookfield Asset Management
« Reply #429 on: April 02, 2018, 03:46:38 PM »
Did anyone notice that they use IFRS valuation for BPY and quoted values for BEP,  BIP and BBU? IFRS value is $4.5B higher for BPY than in quoted value, for the other entities the quoted values are higher.

Sneaky accountants....
Life is too short for cheap beer and wine.