8-K - Brookfield Asset Management Ltd. | StockGist

AI Analysis

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Brookfield and La Caisse entered into a definitive arrangement agreement to acquire all issued and outstanding Class A common shares of Boralex Inc. for $37.25 in cash per share, representing a 31.8% premium over the March 20, 2026 TSX closing price and implying a $9.0 billion enterprise value. The transaction, unanimously approved by Boralex's board, is expected to close by Q4 2026 subject to shareholder and regulatory approvals.

Key Takeaways

1Boralex shareholders to receive $37.25 cash per Common Share, a 31.8% premium to March 20, 2026 TSX close and 36.4% to 30-day VWAP

2Total enterprise value of $9.0 billion ($9.7 billion Combined basis), 13x 2026E consensus EBITDA

3Brookfield to acquire 70%, La Caisse to increase to 30% pro forma from 15%

4Boralex operating portfolio: ~3,800 MW across wind, solar, hydro, battery storage; >90% contracted for average 10 years

5Expected close Q4 2026, subject to 2/3 shareholder approval, majority excluding La Caisse, court and regulatory approvals

6La Caisse agreed to vote in favor and entered voting support agreement

Current Report Details

Event Type

Other Event

Exhibits Only

Disclosure

Voluntary

Variant

8-K

Items Reported

8.01

. Other Events. On March 25, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by refer

Other Event

9.01

. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release dated March 25, 2026 104 Cover Page Interactive Data File (embed

Exhibits Only

Source Document

Transaction Details

Acquisition / Disposition

Target: Boralex Inc. (all issued and outstanding Class A common shares)
Consideration: $37.25 in cash per Common Share; total equity value approximately $3.8 billion; total enterprise value $9.0 billion ($9.7 billion on a Combined basis)
Structure: Definitive arrangement agreement (Arrangement Agreement); statutory plan of arrangement under Canada Business Corporations Act

•Expected to close by Q4 2026
•Approval of at least two-thirds of votes cast by Common Shares at shareholder meeting
•Approval of simple majority of votes cast excluding La Caisse and MI 61-101 excluded shares
•Court approval
•Receipt of key regulatory approvals
•Satisfaction of customary closing conditions
•Not subject to financing conditions

Exhibits (2)

8-K

FORM 8-K

99.1

PRESS RELEASE