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Brookfield Buying Trizec Properties.
CHICAGO -- Brookfield Properties Corp., together with the Blackstone Group, is acquiring Trizec Properties and Toronto-based Trizec Canada in a transaction valued at a total of $8.9 billion.
Brookfield, a New York-based office real estate investment trust, is acquiring the common stock of Trizec Properties at $29.01 per share in cash and is acquiring the shares of Trizec Canada for $30.97 per share in cash. The additional $1.96 cash consideration per Trizec Canada share reflects the value of Trizec Canada's net assets other than its approximate 38% interest in Trizec Properties, Trizec reports.
The price for the Trizec Properties common stock represents an 18% premium over its June 2, 2006 closing price of $24.60 on the New York Stock Exchange. And the price for Trizec Canada shares represents a 30% premium over its closing price on the Toronto Stock Exchange on June 2, the REIT reports.
Tim Callahan, president and CEO, Trizec Properties, noted that Trizec ...
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- Brookfield Buying Trizec Properties.
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- Press release article from: Business Wire August 15, 2002 700+ words
...Aug. 15, 2002 Trizec Properties, Inc. (NYSE: TRZ...from the Boards of both Trizec Properties, Inc. and Trizec Canada Inc. (TSX: TZC...completed the launch of Trizec Properties as a publicly traded U...
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- Magazine article from: Los Angeles Business Journal Whitlow, William E. Carrick, John M. June 19, 2006 700+ words
For the benefit of casual industry observers who may have lost count, the acquisition of Trizec Properties and Trizec Canada by a joint venture between Brookfield Properties and the Blackstone Group two weeks ago is the most recent...
- Chicago-Based Trizec Properties to Keep Las Vegas Shopping Center.
- Newspaper article from: Knight Ridder/Tribune Business News December 20, 2002 700+ words
...20--Chicago-based Trizec Properties has no plans to sell its...distinct organizations: Trizec Canada and Trizec Properties, the latter a publicly...major U.S. markets. Trizec Properties' newly stated focus on...
Source: HighBeam Research, Brookfield Buying Trizec Properties.