A group of investors led by Magnetar Capital, LLC and Triangle Peak Partners. Inc. agreed to acquire an additional 8.05% stake in Teekay Corporation (NYSE:TK) from Resolute Investments Ltd. for approximately $230 million on December 2, 2013. The group of investors included MTP Energy Fund Ltd, MTP Energy Opportunities Fund LLC, Magnetar Capital Master Fund, Ltd, Blackwell Partners LLC, Compass Offshore HTV PCC Limited, Compass HTV LLC, Magnetar Global Event Driven Master Fund Ltd, Magnetar Constellation Fund II, Ltd, Magnetar Constellation Master Fund, Ltd, Magnetar Xing He Master Fund Ltd, Magnetar SC Fund Ltd, Triangle Peak Partners II, LP, William V. Morgan, Fayez S. Sarofim, Sarofim International Management Company, Andrew L. Atterbury, Whetstone Capital, LP, Seis Holdings LLC, Richard D. Kinder, Kayne Anderson Energy Total Return Fund, Inc., Kayne Anderson Midstream/Energy Fund, Inc., Goldman Sachs MLP Income Opportunities Fund, Goldman Sachs MLP Energy Infrastructure Fund, Brenner West Capital Master Fund, Ltd., Brenner West Capital Partners, LP, Highline A Master Fund, L.L.C., Highline B Master Fund, L.L.C., Highline Capital Master, L.P., Highline Capital Partners, L.P., Highline Capital Partners QP, LP, New Mountain Vantage LO, L.P., New Mountain Vantage, L.P., New Mountain Vantage (California), L.P., New Mountain Vantage (California) II, L.P. and New Mountain Vantage Holdco Ltd.

Following the closing of the transaction, Resolute will own approximately 36% of Teekay's outstanding common shares, down from approximately 44% currently. In connection with the transaction, Teekay has agreed to repurchase 0.3 million Teekay common shares from Resolute at the same price as the investors, which shares Teekay intends to cancel upon closing. Both transactions are scheduled to close on December 3, 2013. Resolute has agreed to a 270-day lock-up period, during which time it will not sell any additional Teekay shares.