February 26, 2016 Comments Off on Rouse Accepts $2.8B Brookfield Offer Views: 2009 California News, National News

Rouse Accepts $2.8B Brookfield Offer

New York-based Rouse Properties has decided to join forces with Brookfield, its largest shareholder. The publicly traded real estate investment trust was acquired by an affiliate of Brookfield Asset Management Inc., after management received unanimous approval from a special committee of its board.

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 per share offer Brookfield made in January.

David Kruth, the Rouse board member who headed the evaluation committee, says that Brookfield’s increased proposal provides shareholders with “compelling value,” as well as a “high degree of execution certainty.”

Read More at Reuters

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