Teekay Offshore Partners plans to hire outsiders to evaluate Brookfield Business Partners' plan to take it private at a discount following shareholder demands that it do just that.
The Vancouver-based, New York-traded company confirmed the move to TradeWinds over the weekend.
"Teekay Offshore's Conflicts committee, consisting only of non-Brookfield affiliated Teekay Offshore directors, will retain advisors and evaluate the proposed offer on behalf of the owners of the non-Brookfield owned limited partnership interests," Teekay Offshore said.
