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BBU - How Minority Shareholders Of Teekay Offshore Could Win The Battle Against Brookfield Business Partners
Brookfield Business Partners L.P. Limited Partnership Units
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 offer for the minority shareholders of TOO. At close to an all-time low share price.
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