Home / Brookfield Asset Management Inc makes US$657M offer for U.S. shopping-mall owner Rouse Properties Inc
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Brookfield Asset Management Inc makes US$657M offer for U.S. shopping-mall owner Rouse Properties Inc

Rouse was spun off in 2012 off from mall owner General Growth Properties Inc., after General Growth emerged from bankruptcy with financing from an investor group led by Brookfield. The Rouse spinoff contained 30 retail properties in smaller cities and second-tier properties in larger markets.

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 US$657 million.

Brookfield, which already owns about a third of Rouse, said it would pay US$17 a share for the remainder in an all-cash transaction, according to a statement Tuesday. The offer is 26 per cent more than Rouse’s closing price on Friday. The real estate investment trust’s shares jumped 30 per cent, the most on record, to US$17.54 at 9:49 a.m. in New York.

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