Brookfield Homes Announces Final Results of Tender Offer
23 November 2005 - 5:07AM
Business Wire
Brookfield Homes Corporation (NYSE:BHS) today announced the final
results of its tender offer, which expired on November 15, 2005.
Based on a final count by Mellon Investor Services LLC, the
depositary for the tender offer, 23,309,145 shares of common stock
were properly tendered and not properly withdrawn, including shares
tendered by Brookfield Asset Management Inc. (formerly Brascan
Corporation), the major stockholder of Brookfield Homes. In
accordance with the terms of the tender offer, Brookfield Homes has
accepted 3,000,000 shares for purchase at a price of $55.00 per
share. Because the number of shares tendered exceeds the number of
shares accepted for purchase, the proration factor for non-odd lot
holders participating in the tender offer is approximately 12.18%.
The depositary for the tender offer, Mellon Investor Services LLC,
will on November 23, 2005, commence payment for the shares accepted
for purchase and arrange to return shares tendered and not
purchased. Brookfield Homes Corporation Brookfield Homes
Corporation is a residential homebuilder and land developer,
building homes and developing land in master-planned communities
and infill locations. We design, construct and market single-family
and multi-family homes primarily to move-up and luxury homebuyers.
We also entitle and develop land for our own communities and sell
lots to other homebuilders. Our portfolio includes 30,000 lots
owned and controlled in the San Francisco Bay Area; Southland / Los
Angeles; San Diego / Riverside; Sacramento; and Washington D.C.
Area markets. For more information, visit the Brookfield Homes
website at www.brookfieldhomes.com. Brookfield Homes Corporation
(NYSE:BHS)
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