Deals
Brookfield Agrees to Acquire Forest City in $6.8 Billion Deal
- Deal values real estate investment trust at $25.35 a share
- Forest City said in March it was better off staying standalone
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Brookfield Asset Management Inc. agreed to acquire Forest City Realty Trust Inc. for about $6.8 billion just four months after the real estate investment trust said it planned to remain a standalone company.
The Toronto-based alternative asset manager said in a statement Tuesday it will acquire Forest City for $25.35 a share in cash, a 10 percent premium over where shares closed Monday and about 26 percent above where they were trading the day before Bloomberg reported that the pair had restarted talks. The deal is valued at $11.4 billion including debt, according to the statement.