March 13, 2019 / 2:16 PM / 7 months ago

BUZZ-Oaktree Capital Group: Brookfield to acquire 62 pct stake; shares jump

** The asset manager’s shares jump 12 pct at $48.99 after Brookfield Asset Management Inc to acquire 62 pct stake in co

** Oaktree shareholders can choose to get either $49 in cash or 1.0770 Class A shares of Brookfield for each share held, with the total amount to be paid in 50 percent stock and rest in cash

** Deal represents 11.8 pct premium to Oaktree’s Tuesday closing price

** Two companies together will have ~$475 bln of assets under management and $2.5 bln of annual fee-related revenues

** The deal is expected to be accretive to Brookfield on a per share basis before any benefits from the combination

** BAMa.TO down 0.2 pct at C$61.32

** Up to Tuesday’s close, stock up 10.3 pct YTD (Reporting by Shanti S Nair in Bengaluru)

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