Brookfield to Acquire Peakstone for $21 per Share

Brookfield Asset Management (BAM) and Peakstone Realty Trust (PKST) announced that they have entered into a definitive agreement in which a Brookfield private real estate fund would acquire all of the outstanding shares of Peakstone for $21.00 per share in cash. The all-cash transaction represents an implied enterprise value of approximately $1.2B. The proposed purchase price represents a premium of 34% to Peakstone's share price on January 30, the last full trading day prior to this announcement, as well as a 46% premium to the company's 30-day volume weighted average price and a 51% premium to the company's 90-day VWAP, for the period ended January 30. The transaction has been unanimously approved by the Peakstone board and is expected to close by the end of the second quarter of 2026, subject to customary closing conditions, including approval by the company's shareholders. The definitive agreement includes a 30-day "go-shop" period expiring at 11:59 p.m. New York City time on March 4, during which time the company, with the assistance of its advisors, may actively solicit and consider alternative acquisition proposals and engage in discussions with third parties. Subject to the terms and conditions of the definitive agreement, including notice and negotiation rights in favor of Brookfield, the company may terminate to enter into a transaction that constitutes a superior proposal, subject to the payment of a termination fee. As a condition to the transaction, Peakstone has agreed to suspend payment of its regular quarterly dividend, effective immediately, until the earlier of the closing or the termination of the definitive agreement. The outside date pursuant to the definitive agreement is August 2. Subject to and upon completion of the transaction, Peakstone's shares will no longer trade on the New York Stock Exchange, and Peakstone will become a privately-held company.