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Brookfield Corporation Class A Limited (BN $66.51)
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Brookfield Asset Management Ltd. Class A Limited Voting Shares (BAM $80.66)
Q: Sep 2 morning,Bam announced joint acquistion of Air Lease.Negative response on both Bam & Bn for 2 days,then turned positive today.Any reasons.?Your opinion on the purchase. Are they buyable,& what are good entry price.Txs for u usual great opinion & services
5i Research Answer:
While it is a $7.4B deal, Brookfield is only part of the buying group and its stock is now up on the week. With its $151B market cap, and considering it is only part of the deal, the deal is not hugely significant to Brookfield and we would not read anything into the trading activity. We would remain comfortable buying BN at $90 and BAM at $80.