Aveo suitor Brookfield expects a Foreign Investment Review Board decision on its $1.3 billion takeover bid for the retirement living operator before shareholders are due to vote on the deal early next month.

In a letter to shareholders that accompanied the formal scheme of arrangement on Monday, Aveo said Canada-based Brookfield, which will also take over the company's $752 million debt financing facilities, expected a FIRB decision on the planned takeover by the statutory deadline of October 31 "or shortly thereafter", but ahead of the planned November 6 scheme meeting to approve the deal.