Multiplex buyer

Brook field Asset Management, a Canadian asset management company, has submitted an all cash offer to acquire Multiplex, which has been approved by the Australian contractor's Board. The company will pay AU$ 5.05 (US$ 4.14) per share for Multiplex, for a total transaction value of AU$ 4.3 billion (US$ 3.52 million). According to Brookfield, the offer represents a +30% premium on Multiplex's share price over the last month, and is equivalent to 20.7 times its net profit in 2006.