Teekay Offshore Partners Announces Agreement for the Acquisition of Its Publicly Held Common Units by Brookfield
TEEKAY OFFSHORE PARTNERS (TOO)
Last teekay offshore partners earnings: 4/30 01:55 am
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US:NYSE Investor Relations:
teekay.com/investors/teekay-offshore-partners-l-p/financials-presentations
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Source: GlobeNewswire
HAMILTON, Bermuda, Oct. 01, 2019 (GLOBE NEWSWIRE) -- Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO) today announced that it has entered into an agreement and plan of merger (the Merger Agreement) with Brookfield Business Partners L.P., and certain of its affiliates and institutional partners (collectively, the Brookfield Consortium). Pursuant to the Merger Agreement, the Brookfield Consortium will acquire by merger all of the outstanding publicly held common units representing limited partner interests of the Partnership (common units) not already held by the Brookfield Consortium (unaffiliated unitholders) in exchange for $1.55 in cash per common unit (the cash consideration). The cash consideration represents an increase of $0.34 (28.1 percent) per common unit when compared to the closing price per common unit on May 16, 2019, immediately prior to Brookfield’s initial offer and a premium of $0.39 (33.6 percent) to the $1.16 closing price per common u
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