Brookfield Asset Management Inc. and West Street Capital Corporation Announced Today That Brookfield is Increasing Its Offer to
July 27 2009 - 4:55PM
Marketwired
Brookfield Asset Management Inc. ("Brookfield") and West Street
Capital Corporation (TSX VENTURE: WSC)(TSX VENTURE: WSC.PR.A)
("West Street") announced today that Brookfield is increasing its
offer to purchase any Class E Preferred Shares, Series 1 of West
Street (the "Preferred Shares") that Brookfield does not currently
own to $37.50 for each Preferred Share. In connection with the
increase in the offer price, the offer has been extended to 12:00
p.m. (Toronto time) on August 11, 2009. West Street's Board of
Directors (with directors that are related to Brookfield
abstaining) recommends that holders of Preferred Shares accept the
increased offer and tender their Preferred Shares to the offer.
Brookfield has informed West Street that it intends to propose an
amalgamation or arrangement which will have the effect that any
Preferred Shares that have not been tendered to the offer will be
acquired at the same price of $37.50 for each Preferred Share.
A notice of extension, variation and change in information and
the Board of Directors' notice of change affirming its
recommendation are expected to be mailed to holders of Preferred
Shares shortly.
Contacts: West Street Capital Corporation Brian D. Lawson
President (416) 359-8625
West Street Capital Corp. (TSXV:WSC)
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