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Stock Market & Financial Investment News

News Breaks
June 20, 2013
10:04 EDTBAM, GGPGeneral Growth says Brookfield has no intent to sell GGP securities
General Growth Properties (GGP) confirmed it filed a Form S-3 yesterday to update a registration statement previously filed in March 2011 related to the ownership of GGP securities held by affiliates of Brookfield Asset Management (BAM). General Growth stated: "The Form S-3 was administrative in nature and in the normal course of business. Brookfield has advised the company that it has no intention of selling its securities of GGP."
News For GGP;BAM From The Last 14 Days
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May 6, 2015
07:56 EDTBAMBrookfield reports Q1 FFO 82c, consensus 33c
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May 5, 2015
07:02 EDTBAMBrookfield reinstated with a Neutral at Credit Suisse
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May 4, 2015
17:08 EDTBAMGrafTech, Brookfield Asset Management in investment agreement
GrafTech International (GTI) announced it has entered into an investment agreement with an affiliate of Brookfield Asset Management (BAM) under which Brookfield will acquire $150M of 7% convertible preferred shares of GrafTech in a private offering. The investment agreement follows the letter of intent announced by GrafTech on April 29, 2015. The convertible preferred share issuance, which was unanimously approved by GrafTech’s Board of Directors, is expected to close once customary closing conditions, including applicable regulatory approvals, are satisfied. Under the terms of the investment agreement, upon issuance, the convertible preferred shares will be issued in two series, Series A shares and Series B shares. The series A shares will be immediately convertible into GrafTech common shares equal to approximately 19.9% of the currently outstanding shares of GrafTech common stock, at a conversion price of $5.00 per common share, subject to customary anti-dilution adjustments. The series B shares will become convertible into common shares equal to approximately 2% of the currently outstanding shares only upon approval by GrafTech stockholders in accordance with New York Stock Exchange requirements. If approved, the two series will be combined into one series. Both series of convertible preferred shares are entitled to dividends at a 7% annual rate. Dividends will be cumulative and will accrue until paid. The proceeds from the sale of the convertible preferred stock, together with other cash and credit resources of the Company, will be used to repay the Company’s senior subordinated notes due to mature in November 2015. Pursuant to the investment agreement, Brookfield will designate two directors to be appointed to the Company’s Board. With the addition of these directors, the GrafTech Board will be expanded from seven to nine. Additional details regarding the private offering are available in the Company’s filings with the Securities and Exchange Commission.
May 1, 2015
09:19 EDTBAMAssociated Estates not providing outlook for remainder of 2015
Associated Estates (AEC) will also not affirm or update previously issued guidance range of FY15 EPS or FFO. This comes after the company's announcement that it had entered into an agreement and plan of merger with an affiliate of a real estate fund managed by Brookfield (BAM)
April 29, 2015
11:42 EDTBAMBrookfield could target Home Properties or Post Properties, says dealReporter
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April 27, 2015
16:05 EDTGGPGeneral Growth sees FY15 FFO $1.40-$1.46, consensus $1.43
16:05 EDTGGPGeneral Growth sees Q2 FFO 31c-33c, consensus 33c
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16:04 EDTGGPGeneral Growth reports Q1 FFO 32c, consensus 32c
Reports Q1 revenue $594.14M, consensus $631.26M. Reports Same Store NOI up 3.3% to 543M.
15:04 EDTGGPNotable companies reporting after market close
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11:11 EDTBAMHome Properties takeover speculation not surprising, says Wells Fargo
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April 26, 2015
18:43 EDTBAMFinal bids for Crown Castle Australia due May 13, AFR says
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April 22, 2015
09:17 EDTBAMBrookfield agrees to acquire Associated Estates for $28.75 per share in cash
Associated Estates (AEC) announced its board has unanimously approved a definitive merger agreement under which a real estate fund managed by Brookfield Asset Management (BAM) will acquire all outstanding shares of common stock of Associated Estates for $28.75 per share in cash. The transaction is valued at approximately $2.5B including the assumption of debt. Completion of the transaction is contingent upon customary closing conditions. The company will convene a special meeting to seek the approval of Associated Estates shareholders, and the annual meeting previously scheduled for May 22, 2015 has been postponed indefinitely. The transaction is not contingent on receipt of financing by Brookfield. Closing is expected to occur in the second half of 2015. Associated Estates intends to pay the previously announced common stock dividend of 21c per share on May 1, 2015 to shareholders of record as of April 15, 2015. The Company does not expect to pay additional dividends prior to the closing of the merger.

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