Shareholder Alert: Robbins Arroyo LLP Announces Acquisition of Teekay Offshore Partners L.P. (TOO) by Brookfield Asset Management Inc. (BAM) May Not Be in Unitholders' Best Interests
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: Business Wire
SAN DIEGO & HAMILTON, Bermuda--(BUSINESS WIRE)--Robbins Arroyo LLP announces that shareholders of Teekay Offshore Partners L.P. ("Teekay") have filed a class action complaint against Teekay (NYSE: TOO) and Brookfield Asset Management Inc. (NYSE: BAM), among others, in regard to the agreement by Teekay Corporation (NYSE: TK) to sell its remaining interests in Teekay to Brookfield. Under the terms of the agreement, Brookfield will purchase Teekay Corporation's remaining interests in Teekay, including the 49% general partner interest, common units, warrants, and an outstanding $25 million loan, for total proceeds of $100 million in cashIf you own units of Teekay, click here.Is the Proposed Acquisition Best for Teekay Offshore Partners L.P. and Its Unitholders?According to the complaint, Teekay is a leading services provider in the offshore petroleum industry that saw its stock price decline 90% over three years due to declining oil prices, increased competition, and poor management.
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