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Brookfield buys most of Oaktree to build juggernaut to rival Blackstone

“Oaktree shareholders can exchange each of their shares for either $49 in cash or 1.0770 Class A shares of Brookfield” writes Midwest Communications Inc for Oaktree shareholders, consisting primarily of its founders, certain members of management and employees, will own the remaining 38 percent of the company.The combined businesses will have about $475 billion of assets under management, Brookfield said in a statement.Brookfield approached Oaktree about the deal sometime during the fall season, a person familiar with the matter said.Oaktree’s stock is down around 13 percent in the last five years, even after a price bump on Wednesday following the deal’s announcement.

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