|Bid||0.00 x 800|
|Ask||0.00 x 2200|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|Beta (3Y Monthly)||0.95|
|PE Ratio (TTM)||15.50|
|Forward Dividend & Yield||0.64 (1.32%)|
|1y Target Est||55.72|
By John Jannarone Colony Capital (ticker: CLNY) is exploring a sale of its industrial real-estate unit, according to a Bloomberg report Wednesday, news that comes less than a week after CorpGov published an an analysis showing the company could be more valuable if it were broken up or sold outright. The asset, which is structured […]
Date: Thursday, August 8, 2019 Time: 11:00 a.m. (Eastern Time) BROOKFIELD, NEWS, July 15, 2019 -- Brookfield Asset Management (NYSE:BAM)(TSX:BAM.A)(EURONEXT.
Colony Capital Appears Undervalued with a Sum of the Parts Valuation Over $11 per Share By John Jannarone Colony Capital (ticker: CLNY) is a maze of real-estate assets that many investors have elected to avoid. But with activist Blackwells Capital’s pressure on the company, there is a clear path to big rewards. With a […]
(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 email@example.com;Baiju Kalesh in Mumbai at firstname.lastname@example.orgTo contact the editors responsible for this story: Fion Li at email@example.com, Anto AntonyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Brookfield Renewable Partners' investment in a fast-growing solar company will give it a bit more power to increase its high-yielding payout.
Moody's Investors Service has assigned a Ba3 rating to the proposed senior unsecured USD notes to be issued by Greenland Hong Kong Holdings Limited (Ba2 stable). "The issuance of the proposed notes will not materially affect the company's financial profile or Ba2 corporate family rating, because the proceeds will be used to refinance existing debt," says Danny Chan, a Moody's Assistant Vice President and Analyst, and also Moody's Lead Analyst for Greenland Hong Kong.
Australia's Aveo Group revealed on Thursday it had received a takeover offer from Canada's Brookfield Asset Management Inc for the A$1.2 billion ($844.4 million) retirement-home operator, ending weeks of speculation. The Sydney-based firm last month said a "preferred party" had made a confidential, non-binding and conditional indicative takeover proposal. The buy would give Brookfield a large slice of Australia's aged-care industry, which has seen its valuations slide to attractive levels in the wake of a public inquiry into mistreatment and abuse of residents in aged-care facilities.
The global infrastructure giant will add Genesee & Wyoming to its portfolio of railroad operators.
Brookfield and GIC's offer of $112 per share represents a premium of 12 percent to Genesee's closing price on Friday. Genesee shares were up about 8 percent in trading before the bell. Genesee & Wyoming's revenue have increased at a compound annual growth rate of 16.8% since it floated in the stock market in 1996, rising to $2.3 billion in 2018 from $77.8 million, according to Genesee & Wyoming's latest annual report.
(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 firstname.lastname@example.org;Thomas Black in Dallas at email@example.comTo contact the editors responsible for this story: Young-Sam Cho at firstname.lastname@example.org, Susan WarrenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of the Darien, Conn.-based company surged nearly 9% to $108.79 at the open after Brookfield infrastructure has agreed to pay $112 a share in cash for the railway and freight operator. The remainder of the business will be owned by Brookfield Infrastructure's institutional partners and GIC. Genesee & Wyoming's decision to sell itself comes in the wake of its recent wave of acquisitions of short-line railroads, which has made investing in the maintenance of its expanding network more costly.
Canada's Brookfield Asset Management Inc and Singaporean sovereign wealth fund GIC on Monday agreed to buy U.S. freight railroad owner Genesee & Wyoming Inc for about $6.4 billion in cash. Brookfield and GIC's offer of $112 per share represents a premium of 12% to Genesee's closing price on Friday. Genesee & Wyoming's revenue have increased at a compound annual growth rate of 16.8% since it floated in the stock market in 1996, rising to $2.3 billion in 2018 from $77.8 million, according to Genesee & Wyoming's latest annual report.
Investment firm Brookfield Asset Management Inc has agreed to acquire U.S. freight railroad owner and operator Genesee & Wyoming Inc for close to $9 billion, including debt, people familiar with the matter said on Sunday. Genesee & Wyoming's decision to sell itself comes after its string of acquisitions of short-line railroads made investing in the maintenance of its expanding network more expensive, amid weakness in some of its core North American markets for the transport of steam coal and agricultural products. Some buyout firms such as Brookfield specialize in helping companies they buy bankroll further acquisitions to consolidate their sectors.
Are you looking for a portfolio of stocks to buy but don't want to buy a broad-market index ETF? If so, Robert Kirby's idea of the Coffee Can portfolio should do the trick.Robert Kirby was a portfolio manager based in Los Angeles who spent most of his working life with the Capital Group, one of the world's largest and oldest investment management companies. In 1984, Kirby wrote an article for the Journal of Portfolio Management entitled The Coffee Can Portfolio, an article in which he makes a case for buying a 50 quality stocks and holding them indefinitely. He looked at this concept as actively passive investing. InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhile he admitted that this wouldn't make active managers very rich because they'd have to charge such a low fee given how little work was involved, he believed that someone should come along to offer such a service. * 10 Small-Cap Stocks That Look Like Bargains These seven stocks to buy that should get the job done over the long haul. Berkshire Hathaway (BRK.A, BRK.B)Source: Shutterstock The world's largest ETF by assets under management is the SPDR S&P 500 ETF (NYSEARCA:SPY) at $263 billion. To own that you'll pay an annual fee of 0.09% of whatever you have invested in the ETF. By comparison, if you buy 100 shares of Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B), you'll pay the commissions for any shares you purchase, and that's it. If you hold them indefinitely, your annual fee over 10 years would be almost non-existent. There are plenty of experts out there who would suggest that with Warren Buffett approaching 90 years of age, now is not the time to recommend Berkshire stock. That's for the simple reason that BRK's share price will get hit when the Oracle of Omaha finally passes.However, many others feel that Berkshire stock would rise upon his death, including Buffett himself. At the end of the day, buying this particular one-stock portfolio gives you a small part of $739 billion in diversified assets spread across the Globe. BRK stock will do just fine after Buffett's gone. And you can't beat the fees. Brookfield Asset Management (BAM)Source: Governor Earl Ray Tomblin via FlickrIf you don't mind investing in a company that's based in Canada, Brookfield Asset Management (NYSE:BAM) is an excellent way to own a diversified portfolio of infrastructure, private equity, and real estate assets. In addition to those assets, it also owns a portfolio of 216 stocks worth $23.8 billion as of its most recent 13F summary page. Its largest holding is a 79% ownership stake in GrafTech International (NYSE:EAF) worth $2.9 billion. One of its other large holdings is a $549 million investment in SPY, which I spoke about in the Berkshire section. Like everyone else, it pays 0.09% to own that ETF, which works out to a little less than $495,000 in annual fees. Thought to be the leading bidder for Genesee & Wyoming (NYSE:GWR), an operator of short-line railroads in the U.S., you will never be bored following all the wheeling and dealing that CEO Bruce Flatt and his management do to deliver above-average shareholder returns. * 6 Worst S&P 500 Stocks of 2019 (So Far) Although Brookfield is an asset manager and is paid fees to manage the assets, it also puts a significant amount of its own capital into these deals, providing shareholders with the assurance that their interests are aligned with Brookfield's. Compass Diversified Holdings (CODI)Compass Diversified Holdings (NYSE:CODI) is a holding company that buys middle market businesses that are profitable and growing. It first came to my attention in 2011. Since then, I've recommended it from time to time. The latest being July 2017. At the time it was trading around $17.30. Today, it's up around $19, an average 10% return over the past two years. "Like Brookfield, CODI is part private equity firm, part strategic acquirer, and part asset manager. Set up as a grantor trust and publicly traded partnership, it is neither a business development company (BDC) nor an REIT, and is not required to distribute a minimum amount of cash flow to shareholders," I wrote at the time. "The company's business model allows it to take the long-term view with all of its investments."CODI gained some notoriety earlier this year when it sold one of its portfolio companies -- Manitoba Harvest is a maker of hemp-based foods sold across the U.S. and Canada -- to Tilray (NASDAQ:TLRY) for CAD $419 million, a move that got the cannabis company into one of the industry's biggest areas of growth. If you buy CODI whenever it trades below $15, you will make money in the long run. Loews Corporation (L)Source: Shutterstock Although the holding company run by New York's Tisch family has had a rough go of it in recent years, I never doubted that Loews (NYSE:L) stock would one day turn the corner and deliver a strong year on the markets. Year to date, L is up 20.1% (including dividends) year to date through June 25, the best annual performance in many years. Why the big move?Well, for starters, in the most recent quarter ended March 31, Loews increased its net income by 34% to $394 million. On a per share basis, it grew net income by 43% due to fewer shares outstanding. On the top line, Loews grew its revenues by 4.9%, to $3.76 billion from $3.58 billion a year earlier. The company continues to use its excess cash flow to buy back its shares. In the first quarter, it repurchased 6.8 million shares at an average price of $47.35 a share. In the same period a year earlier, it bought back 9.9 million of its shares for $497 million. If you look at its 10-Q, you'll see that CNA Financial (NYSE:CNA), its 89%-owned subsidiary, generated 77% of the company's net income in the quarter. Like Berkshire, insurance is a critical holding in the Loews empire. In 1974, Loews acquired 56% of CNA for $2.50 a share on a split-adjusted basis. Those shares today are worth approximately $26 a share, a return of almost 6% annually, not including the gains on the additional shares it's acquired over the years along with the income it's received from its ownership. * The Top 8 Tech Stocks of 2019 (So Far) It's the foundation of Loews. Fairfax Financial Holdings (FRFHF)Source: Shutterstock This is the second of three Canadian one-stock portfolios I'm recommending. Fairfax Financial Holdings (OTCMKTS:FRFHF) is sometimes called the Berkshire Hathaway of Canada. Founded in Toronto in 1985 by Indian-born investment manager Prem Watsa, the company's book value per share has grown by 18.7% over the past 34 years from $1.52 in 1985 to $432.46 in 2018.After a couple of bad years in the markets, Fairfax stock is up 14.2% year to date (including dividends) through June 25, returning the stock to its usual double-digit annual returns. Like Berkshire, Fairfax's business is built on an insurance foundation. In the first quarter ended March 31, the company's insurance operations had an operating income of $246.7 million, 3.8% higher than a year earlier. Unfortunately, its non-insurance business saw operating income drop by 46.4% in the quarter. However, it did manage to deliver net gains on its investments of $723.9 million, bringing its net income to $769.2 million, 12.4% higher than a year ago. If you like conservatively financed businesses, Fairfax is the one stock to buy, with total debt to total capital of just 29.2%. During the quarter, FRFHF repurchased $172.3 million of its stock at an average price of $468.21 a share. Outside the company's insurance business, its investments in India and Africa and the retail industry hold out the most promise for the future. LVMH (LVMUY)Source: Mathieu Lebreton via FlickrBernard Arnault went over the $100-billion mark June 20, making the CEO of luxury goods conglomerate LVMH (OTCMKTS:LVMUY), the third wealthiest person in the world behind Jeff Bezos and Bill Gates, but ahead of Warren Buffett. Arnault, who owns 46% of LVMH, has seen his wealth increase dramatically in 2019, due to a 44.1% increase in the company's stock year to date through June 25. While investors have heard of many of its luxury brands: Louis Vuitton, Fendi, Christian Dior, Moet & Chandon, Glenmorangie, Guerlain, Tag Heuer, and Sephora, the story of how Arnault gained control of this incredible group of businesses is what makes LVMH so attractive as an investment. In 1984, Arnault bought a bankrupt French textile company that happened to also own Christian Dior with $15 million from his family and the rest financed with debt. Quickly, he went to work buying up fashion houses in Europe and turning them into profitable businesses that generate vast amounts of cash. * 5 of the Best-Performing ETFs for 2019 So Far Today, it generates almost $53 billion in annual sales from 70 different brands. Arnault is quite possibly the best capital allocator in the world, better than even Warren Buffett. Power Corporation (PWCDF)Source: Shutterstock The final of my three Canadian one-stock portfolios to buy is Montreal-based Power Corporation (OTCMKTS:PWCDF), a holding company controlled by the Desmarais family through a dual-class share structure that gives them 59% of the votes but much less of the actual equity. In turn, the labyrinth-like organizational structure gives it control over both insurance company Great-West Lifeco (OTCMKTS:GWLIF) and asset manager IGM Financial (OTCMKTS:IGIFF) through its 65.5% ownership in Power Financial (OTCMKTS:POFNF).While Great-West Lifeco and IGM Financial are large organizations, it is Power Corporation's investments in fintech companies that are most appealing in terms of future growth. One of them is Toronto-based robo advisor Wealthsimple, which operates in Canada, the U.S., and the UK, managing more than $3.4 billion in assets under management for over 100,000 customers. Power owns 89% of Wealthsimple.While Power's stock continues to underperform relative to both the S&P/TSX Composite Index and S&P 500, the long-term potential of its fintech investments can't be overlooked. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Top Small-Cap Stocks Of 2019 * Critical Levels to Watch in 7 Marijuana Stocks * 5 Smaller Cloud Stocks That Have Plenty of Potential Compare Brokers The post 7 One-Stock Portfolios for Passive Investors appeared first on InvestorPlace.
(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 email@example.com;Scott Deveau in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Alan Goldstein at email@example.com, ;Elizabeth Fournier at firstname.lastname@example.org, Steven Crabill, Pierre PauldenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
BROOKFIELD, NEWS, June 17, 2019 -- Brookfield Asset Management Inc. (TSX: BAM.A, NYSE: BAM, Euronext: BAMA) today announced that at the company’s annual and special meeting of.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Brookfield Property REIT Inc. New York, June 10, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Brookfield Property REIT Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Carbon Health, the technology-enabled healthcare provider designed from the ground up to put patient-care first, announced today that it has secured $30 million in Series B funding. Brookfield Growth Partners led the round, which included new investors DCVC and founders from pioneering healthcare businesses Flatiron Health and Clover Health, as well as continued support from existing investors, Builders VC, Bullpen Capital, Javelin Venture Partners and Two Sigma Ventures. Josh Raffaelli, Managing Director at Brookfield Growth Partners, has joined Carbon Health’s Board of Directors.
All amounts in Canadian dollars unless otherwise stated. BROOKFIELD, NEWS, June 03, 2019 -- Brookfield Asset Management Inc. (TSX: BAM.A, NYSE: BAM, Euronext: BAMA).