Brookfield Buys UK's HomeServe For £4.1B

Author: Akanksha Bakshi | May 19, 2022 07:48am

Brookfield Asset Management Inc (TSX:BAM) (NYSE:BAM) disclosed a recommended cash offer for British home repair services provider HomeServe plc (OTC:HMSVF) for £4.08 billion (~$5 billion).
HomeServe shareholders will receive 1,200 pence in cash for each share held.
The offer price represents a 71% premium to the closing price per HomeServe share of 704 pence on March 23, 2022, the last business day before the offer period.
Brookfield is a global alternative asset manager with approximately $725 billion of assets under management across real estate, infrastructure, renewable power, private equity, and credit.
Brookfield held cash and equivalents of $11.82 billion as of March 31, 2022.
Price Action: BAM shares are trading higher by 0.46% at $46.10 on NYSE during the premarket session on Thursday.