Brookfield gets board approval for simplification move
Brookfield Corp and Brookfield Wealth Solutions said their boards approved a plan to simplify their corporate structure by consolidating into a single publicly traded company, Brookfield Corporation (BN on NYSE and Toronto). The one-for-one exchange of class A shares will be done via a court-approved plan, subject to shareholder approval on July 16. Brookfield expects tax-deferred treatment and completion by year-end, and says distributions will continue.