Deals
Brookfield Makes $657 Million Offer to Buy Rouse Properties
- Acquirer already owns about a third of U.S. mall landlord
- Bid for $17 a share is 26% more than Friday's closing price
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Brookfield Asset Management Inc., Canada’s largest alternative asset manager, made an unsolicited offer to acquire U.S. shopping-mall owner Rouse Properties Inc. for about $657 million.
Brookfield, which already owns about a third of Rouse, said it would pay $17 a share for the remainder in an all-cash transaction, according to a statement Tuesday. The offer is 26 percent more than Rouse’s closing price on Friday. The real estate investment trust’s shares jumped 30 percent, the most on record, to close at $17.50.