Teekay Offshore Partners Receives Offer From Brookfield
(WorldNews Canada)

HAMILTON, Bermuda, May 20, 2019 (GLOBE NEWSWIRE) -- Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO) announced today that it has received an unsolicited non-binding proposal from Brookfield Business Partners L.P. and certain of its affiliates and institutional partners (collectively, the Brookfield Consortium) for the attention of the Conflicts Committee (the Conflicts Committee) of the Board of Directors of Teekay Offshore GP LLC, pursuant to which the Brookfield Consortium would acquire all of the issued and outstanding publicly held common units representing limited partnership interests of the Partnership that the Brookfield Consortium does not already own in...