Brookfield Canada Office Properties Forms Special Committee To Evaluate Offer

(RTTNews) - Brookfield Canada Office Properties (BOXC, BOX_UN.TO) said it acknowledges the press release issued by Brookfield Property Partners L.P. (BPY, BPY_UN.TO) earlier today announcing its proposal to acquire all of the Brookfield Canada Office Properties units that it does not own.

Under its proposal, Brookfield Property Partners would offer Brookfield Canada Office Properties unitholders C$30.10 cash for each unit held.

Brookfield Canada Office Properties said its board of trustees has established a special committee to review and consider the proposal. The company said that its unitholders do not need to take any action with respect to the proposal at this time.

Earlier in the day, Brookfield Property Partners said that it has made a proposal to Brookfield Canada Office Properties to acquire the approximately 16.9 percent equity interest in BOX that it or its affiliates do not own (about 15.8 million units) for C$30.10 cash per unit.