Brookfield Business Partners (TSE:BBU.UN) has released an update.
Brookfield Business Partners has announced the renewal of normal course issuer bids for its limited partnership units and class A exchangeable subordinate voting shares, signaling its belief that the shares may sometimes trade below their true value. The company is authorized to repurchase up to 5% of these securities, with the bids set to commence on August 19, 2024, and ending a year later, or when the maximum purchases are completed. Brookfield Business Partners emphasizes that this strategic move may represent an attractive investment of available funds, and all acquired shares will be cancelled as part of the bid.
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