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MarketScreener Homepage  >  Equities  >  Nyse  >  Brookfield Business Partners L.P.    BBU   BMG162341090

BROOKFIELD BUSINESS PARTNERS L.P.

(BBU)
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Brookfield Business Partners L P : to buy residential mortgage insurer Genworth MI Canada

10/26/2020 | 07:31am EST

TORONTOBrookfield Business Partners LP has signed a deal to buy the remaining interest in Genworth MI Canada Inc. that it does not already own in an offer that values the company at about $3.8 billion.

Brookfield owns a 57 per cent stake in the residential mortgage insurance company.

Under the terms of the agreement, Brookfield will pay $43.50 per share for the shares it does not hold

Genworth shares closed at $35.58 on the Toronto Stock Exchange on Friday.

The deal requires approval by a two-thirds majority vote by shareholders, as well as the approval by a simple majority of votes cast by minority shareholders, which excludes Brookfield.

Genworth MI Canada rebranded earlier this month and has been operating under the Sagen MI Canada banner.

This report by The Canadian Press was first published Oct. 26, 2020.

Companies in this story: (TSX:MIC, TSX:BBU.UN)

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
BROOKFIELD BUSINESS PARTNERS L.P. -0.97% 37.97 Delayed Quote.1.17%
GENWORTH MI CANADA INC. 0.07% 43.46 Delayed Quote.0.12%
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Financials (USD)
Sales 2020 38 779 M - -
Net income 2020 217 M - -
Net Debt 2020 13 930 M - -
P/E ratio 2020 -
Yield 2020 0,66%
Capitalization 5 681 M 5 681 M -
EV / Sales 2020 0,51x
EV / Sales 2021 0,41x
Nbr of Employees 67 030
Free-Float 98,3%
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Technical analysis trends BROOKFIELD BUSINESS PARTNERS L.P.
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 42,67 $
Last Close Price 37,97 $
Spread / Highest target 31,7%
Spread / Average Target 12,4%
Spread / Lowest Target 0,08%
EPS Revisions
Managers and Directors
NameTitle
Cyrus Madon Chief Executive Officer
Jeffrey Miles Blidner Chairman
J. Peter Gordon Chief Operating Officer
Jaspreet Dehl Chief Financial Officer
Peter Poolsaar Chief Information Officer
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