Brookfield Asset Management's $1.6B Decision (BAM)

Brookfield Asset Management BAM is a leading global asset management company with a focus on renewable power, infrastructure, and property. BAM owns property and other business venture around the world. They have been making investments around the globe with the intent of enhancing profitability. Earlier today, BAM announced a normal course issuer bid to purchase up to 50,000,000 class A shares which represents 9.2% of the float. This translates into more than $1.6B. Supposedly, this is a regular movement by management that occurs on a normal basis. Is this the best investment the company can make?