Press Release

Kirkland Counsels Brookfield on Take Private of Teekay Offshore

Kirkland & Ellis advised Brookfield Business Partners L.P., and certain of its affiliates and institutional partners (collectively, the Brookfield Consortium), on its take private of the common units of Teekay Offshore Partners L.P. (NYSE:TOO). The Brookfield Consortium will acquire by merger all of the outstanding publicly held common units representing limited partner interests of the Partnership (common units) not already held by the Brookfield Consortium (unaffiliated unitholders) in exchange for $1.55 in cash per common unit (the cash consideration).  As an alternative to receiving the cash consideration, each unaffiliated unitholder will have the option to elect to receive one newly designated unlisted Class A Common Unit of the Partnership per common unit.
 
Read Teekay Offshore’s press release

The Kirkland team was led by transactional partners Doug Bacon, Matt Pacey and Kim Hicks and includes M&A partner Marc Lipscomb and associates Taylor Anthony, Tyler Dunphy and Brittany Scheier; capital markets partner Bryan Flannery and associates Caleb Lowery and Austin Elliott; debt finance partner Mary Kogut Brawley and associate Mahalia Burford; tax partners Mark Dundon, Ryan Roberts and Sara Zablotney; employee benefits partner Alexandra Mihalas and associate Adria Crowe; executive compensation partner Michael Krasnovsky and associate Jake Ebers; labor & employment partner Michael Schulman; and antitrust partners Michael Thorpe and Mike Robert-Smith.