Brookfield Acquires Rouse for $2.8B
ByRouse Properties has accepted a takeover bid from Brookfield Asset Management—but at a much higher price tag than originally proposed last month.
Mt. Shasta Mall in Redding, Calif., a shopping center owned by Rouse Properties
Rouse Properties has finally decided to accept a takeover bid from Brookfield Asset Management Inc.—but with a much bigger price tag. Last month, CPE reported the U.S. mall operator was considering a $657 million takeover bid, but the company announced today that it would be acquired by a BAM affiliate for a much heftier $2.8 billion.
Brookfield’s all-cash offer of $18.25 per share was an increase of $1.25 per share from the $17 price Brookfield originally proposed on Jan. 16. The deal was unanimously approved today by the special committee of Rouse’s board of directors. Sidley Austin LLP represented Rouse in the transaction…
Brookfield Acquires Rouse for $2.8B
