Brookfield to buy UK repair site HomeServe for £4.1 billion

Brookfield to buy UK repair site HomeServe for £4.1 billion

Bloomberg: Brookfield Asset Management Inc agreed to buy emergency household repairs provider HomeServe Plc in a deal valuing the company at £4.1 billion ($5 billion), one of the UK’s largest take-private transactions this year.

Investors will get 1,200 pence for each HomeServe share, the companies said Thursday. That’s 71% higher than HomeServe’s close on March 23, the day before Brookfield announced its interest. Founder Richard Harpin, his wife and directors of the company have irrevocably agreed to tender their shares in the bid. They own a combined 12.8% stake.

The stock rose as much as 12% to 1,175 pence Thursday. Bloomberg reported last week that the Canadian company was close to an agreement to buy HomeServe.