January 22, 2016 Comments (1) Views: 1078 California News, National News

Brookfield Makes $657M Run at Rouse

Brookfield Asset Management, a Canadian alternative asset manager, has reportedly made an all-cash offer to acquire the majority stake of Rouse Properties, Inc. that it doesn’t already own. The unsolicited bid equates to $657-million, and is awaiting execution of mutually acceptable definitive agreements.

The bid values New York-based Rouse at about $1 billion, a valuation that industry observers believe is depressed. If Brookfield is able to consummate a deal, it would be similar to 2010, when the asset manager led a $30-billion restructuring to help General Growth Properties Inc. emerge from bankruptcy protection. Rouse was formed when GGP spun off a portfolio of 30 malls.

According to Brian Kingston, CEO of Brookfield Property Group, “Our offer provides an attractive opportunity for Rouse shareholders to realize a significant premium to recent public market pricing.”

Read More at Brookfield

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One Response to Brookfield Makes $657M Run at Rouse

  1. […] Brookfield sweetened its offer to $18.25 per share in an all-cash transaction valued at approximately $2.8 billion.That represents a premium of approximately 35-percent over the $17.00 per share offer Brookfield made in January. […]