Shareholders in Brookfield Residential have been offered a Christmas bonus by Brookfield Asset Management
in a new deal that it hopes will secure control of the developer. The firm already owns almost 70 per cent of the shares but is now prepared to pay US$24.25 cash for each share it doesn’t own; that’s 5.4 per cent more than it offered in October. The offer values the company, which operates in a number of North American markets including Calgary and Toronto, at $2.84 billion.
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