Brookfield Business Partners’ improved offer for Teekay Offshore Partners is not enough to satiate at least one investor standing in opposition.
JDP Capital Management, which has argued vociferously against the deal in letters and a lawsuit, still believes Teekay Offshore is worth significantly more than the Toronto private equity firm’s improved $1.55 per share take-private offer.
“JDP is very disappointed in [Brookfield Business Partners’] offer because it represents an ultra-discounted price to even the liquidation value of Teekay Offshore’s assets,” portfolio manager Jeremy Deal told TradeWinds.
