Brookfield Homes Corporation Reports On Tender Offer Results To Date
November 15 2005 - 3:49PM
Business Wire
Brookfield Homes Corporation (NYSE:BHS), in accordance with its
previously announced tender offer for up to 3,000,000 shares of its
outstanding common stock, today announced that 11,651,491 shares
have been tendered by stockholders other than Brookfield Asset
Management Inc. (formerly Brascan Corporation), the major
stockholder of Brookfield Homes. Brookfield Asset Management has
previously indicated that it intends to tender up to an equivalent
number of shares as the aggregate number of shares tendered by
other stockholders. The tender offer expires at 5:00 p.m., New York
City time, on November 15, 2005, unless extended. If the number of
shares properly tendered is greater than the number sought,
purchases will be made on a pro rata basis, except for odd lots.
The company reserves the right, in its sole discretion, to increase
the number of shares purchased subject to compliance with
applicable law. Brookfield Homes' Board of Directors has approved
the tender offer. However, neither Brookfield Homes nor its Board
of Directors is making any recommendation whether stockholders
should tender or refrain from tendering their shares. Stockholders
must decide whether to tender their shares and, if so, how many
shares to tender. Stockholders may wish to discuss with their
broker or other financial or tax advisor whether to tender their
shares. THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND
IS NOT AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY
SHARES OF BROOKFIELD HOMES' COMMON STOCK. THE SOLICITATION OF
OFFERS TO BUY BROOKFIELD HOMES' COMMON STOCK IS ONLY BEING MADE
PURSUANT TO THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND
RELATED TENDER OFFER DOCUMENTS. STOCKHOLDERS SHOULD READ THOSE
MATERIALS CAREFULLY PRIOR TO MAKING ANY DECISIONS WITH RESPECT TO
THE TENDER OFFER BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION,
INCLUDING THE VARIOUS TERMS AND CONDITIONS OF THE OFFER. COPIES OF
THE OFFER TO PURCHASE, THE LETTER OF TRANSMITTAL AND OTHER TENDER
OFFER DOCUMENTS CAN BE OBTAINED FOR FREE BY CALLING THE INFORMATION
AGENT, MELLON INVESTOR SERVICES LLC AT 1-800-261-8066. STOCKHOLDERS
WILL ALSO BE ABLE TO OBTAIN THE OFFER TO PURCHASE AND RELATED
MATERIALS FOR FREE AT BROOKFIELD HOMES' WEBSITE
WWW.BROOKFIELDHOMES.COM, OR THE SEC'S WEBSITE AT WWW.SEC.GOV.
Brookfield Homes Corporation Brookfield Homes Corporation is a
residential homebuilder and land developer, building homes and
developing land in master-planned communities and infill locations.
We design, construct and market single-family and multi-family
homes primarily to move-up and luxury homebuyers. We also entitle
and develop land for our own communities and sell lots to other
homebuilders. Our portfolio includes 30,000 lots owned and
controlled in the San Francisco Bay Area; Southland / Los Angeles;
San Diego / Riverside; Sacramento; and Washington D.C. Area
markets. For more information, visit the Brookfield Homes website
at www.brookfieldhomes.com. Brookfield Homes Corporation (NYSE:BHS)
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