How Minority Shareholders Of Teekay Offshore Could Win The Battle Against Brookfield Business Partners [Seeking Alpha]
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: Seeking Alpha
How Minority Shareholders Of Teekay Offshore Could Win The Battle Against Brookfield Business Partners Dear fellow Teekay Offshore ("TOO") shareholders and potential shareholders, As you may know, in the beginning of this week, Brookfield Business Partners ("BBU") made an unsolicited and predatory BBU owns 73.3% of the units (77% if one accounts for the warrants) of TOO. If they get to 80% they have the right to buy the remaining 20% in the following way: “ Call Right: If at any time our general partner and its affiliates hold more than 80% of the then-issued and outstanding limited partner interests of any class or series, except for the Series A Preferred Units, Series B Preferred Units and Series E Preferred Units, our general partner will have the right, which it may assign in whole or in part to any of its affiliates or to us, to acquire all, but not less than all, of the remaining limited partner interests of the class or series held by unaffiliated persons as of a record date t
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