Brookfield Canada Office Forms Special Committee

Brookfield Property Partners said pre-market Monday it made a proposal to Brookfield Canada Office Properties (BOXC, BOX.TO) to acquire the approximately 16.9% equity interest it does not own in the company, representing approximately 15.8 million units.

Brookfield Canada Office Properties responded in a statement saying its board of trustees formed a special committee to review and consider the proposal to acquire the units for CAD30.10 ($22.65) in cash.

The Toronto-based real estate investment trust added that its shareholders don’t need to take any action with respect to the proposal at this time.

The company’s offer of CAD30.10 per unit is equal to a premium of 14.5% to the 30-day volume-weighted average price on the New York Stock Exchange.