BAM-A.TO - Brookfield Asset Management Inc.

Toronto - Toronto Delayed Price. Currency in CAD
63.45
+0.33 (+0.52%)
At close: 3:59PM EDT
Stock chart is not supported by your current browser
Previous Close63.12
Open63.07
Bid63.51 x 0
Ask63.52 x 0
Day's Range63.04 - 63.75
52 Week Range49.87 - 65.06
Volume659,187
Avg. Volume926,776
Market Cap63.169B
Beta (3Y Monthly)1.14
PE Ratio (TTM)20.20
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.84 (1.33%)
Ex-Dividend Date2019-05-30
1y Target EstN/A
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  • Brookfield Plans Offer for Majority Stake in Suzlon
    Bloomberg9 days ago

    Brookfield Plans Offer for Majority Stake in Suzlon

    (Bloomberg) -- Brookfield Asset Management Inc. is planning an offer for a majority stake in India’s debt-laden Suzlon Energy Ltd., according to people familiar with the matter.The Toronto-based investment firm is working with a financial adviser for due diligence on Suzlon, the people said, asking not to be identified as the details are private. Brookfield proposes to start with buying new shares issued by the company, followed by purchasing stocks from the existing holders under an open offer, the people said.As part of the proposed deal, the Canadian company is in discussions with Suzlon’s creditors to restructure the outstanding bank loans of more than 110 billion rupees ($1.6 billion), under a so-called one-time settlement plan, the people said. Brookfield is demanding that the lenders led by State Bank of India take a haircut of as much as 50% on the loans, they said.Suzlon is in talks with several investors and Brookfield’s proposal is among the various options available, one of the people said. A binding offer from Brookfield could come as soon as the end of this month, another person said.Shares of Suzlon rose as much as 5.3% in Wednesday afternoon trading. The stock has fallen 36% in the past year.A deal like Brookfield’s could be critical for Suzlon and its lenders as the firm’s ratings on its long-term bank facilities were downgraded at Care Ratings Ltd. to D from BB in April. Suzlon has convertible bonds worth $172 million coming due on July 16, data compiled by Bloomberg shows.Deliberations are ongoing, details of Brookfield’s proposal might change and the investment firm can decide against an offer at the end, the people said. A representative for Brookfield declined to comment. Representatives for Suzlon and SBI didn’t immediately respond to requests seeking comments.(Adds Suzlon’s shares price in fifth paragraph.)\--With assistance from P R Sanjai.To contact the reporters on this story: Suvashree Ghosh in Mumbai at sghosh186@bloomberg.net;Baiju Kalesh in Mumbai at bkalesh@bloomberg.netTo contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, Anto AntonyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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  • Brookfield Infrastructure Partners Makes a Big Bet to Broaden Its Rail Business
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  • Brookfield Buys Rail Operator Genesee for $8.4 Billion
    Bloomberg18 days ago

    Brookfield Buys Rail Operator Genesee for $8.4 Billion

    (Bloomberg) -- An affiliate of Brookfield Asset Management Inc. agreed to buy Genesee & Wyoming Inc. for about $6.3 billion, expanding its global portfolio of rail companies with a 120-line network spanning North America, Europe and Australia.Brookfield will pay $112 a share in cash, a 40% premium from G&W’s close on March 8, the last day of trading before Bloomberg News reported that the railroad operator was exploring a possible sale. The stock rose 8.5% to $108.46, an all-time high, at 9:54 a.m. Monday in New York.The deal is valued at $8.4 billion including debt, the companies said in a statement.Singapore sovereign wealth fund GIC Pte will join Brookfield and other partners in a consortium to manage the rail lines that come with 3,000 customers and a resilient cash flow. Activist investor Blue Harbour Group LP also has built a 4% stake in G&W, which trades under the ticker symbol GRW.“The transaction announced today unlocks the significant shareholder value that GWR’s management team has built over many years, both through acquisitions and operational execution,” Blue Harbour managing director Robb A. LeMasters said in a statement. Blue Harbor began investing in G&W last year, when the stock traded at about $75 a share, he said.The railroad operator controls small connecting lines that don’t compete directly with the largest North American railroads, such as Union Pacific Corp., CSX Corp. and Canadian National Railway Co. It has operations in Australia, the U.K. and continental Europe, as well.G&W had climbed 35% this year through Friday, compared with a 17% gain for the Standard and Poor’s Midcap 400 Index. The stock is valued at 23 times estimated earnings, compared with the industry gauge, which is trading at 16.6 times.G&W got its start in the 19th century as a 14-mile rail spur built to serve a salt mine in upstate New York. After the U.S. railroad industry was deregulated in 1980s, the company began snapping up short lines across the country and expanded into Australia in the late 1990s. G&W now owns or leases 120 freight railroads worldwide and has 8,000 employees.G&W gets about 85% of its operating income from its North American operations, which control an unlinked collection of lines that often connect customers to major railroads’ larger network. The company had $2.35 billion of sales in 2018, a 30-fold increase from when it first sold shares to the public in 1996.“This is a rare opportunity to acquire a large-scale transport infrastructure business in North America,” said Sam Pollock, chief executive of Brookfield Infrastructure. “G&W will be a significant addition to our global rail platform and will expand our presence in this sector to four continents.”The transaction is expected to close by early 2020. Credit Suisse Group AG, Wells Fargo & Co., Citigroup Inc. and RBC Capital Markets are providing $3.15 billion of financing. (Updates stock action in second paragraph. A previous version of this story corrected a reference to the deal’s premium.)\--With assistance from Scott Deveau.To contact the reporters on this story: Ma Jie in Tokyo at jma124@bloomberg.net;Thomas Black in Dallas at tblack@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Susan WarrenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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  • Bloomberg28 days ago

    Brookfield Is Lead Bidder for Railroad Operator Genesee & Wyoming

    (Bloomberg) -- An affiliate of Brookfield Asset Management Inc. is the frontrunner to acquire railroad operator Genesee & Wyoming Inc., according to people with knowledge with the matter.A deal could be announced in coming weeks, though no agreement has been reached and discussions may still fall apart, said the people, who asked not to be identified because the talks are private. A representative for Brookfield declined to comment, while representatives for Genesee & Wyoming didn’t respond to requests for comment.Shares of the Darien, Connecticut-based railroad company rose as much as 4.7% in New York, to the highest in more than four years, and were up 1.5% to $98.02 at 1:39 p.m.Bloomberg reported in May that the Toronto-based investment firm was vying with rivals including Blackstone Group LP, Stonepeak Infrastructure Partners and EQT Partners to acquire the company, which had been exploring strategic options including a sale since at least March.Genesee & Wyoming, with a market value of about $5.6 billion, owns or leases more than 100 short-line and regional freight railroads serving the U.S. and Canada. The company doesn’t compete directly with the largest North American railroads such as Union Pacific Corp., CSX Corp. and Canadian National Railway Co. It also has operations in Australia, the U.K. and continental Europe.(Updates with share price in third paragraph.)To contact the reporters on this story: Gillian Tan in New York at gtan129@bloomberg.net;Scott Deveau in New York at sdeveau2@bloomberg.netTo contact the editors responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net, ;Elizabeth Fournier at efournier5@bloomberg.net, Steven Crabill, Pierre PauldenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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