21:58:07 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 987,806,009
Close 2016-01-19 C$ 40.41
Market Cap C$ 39,917,240,824
Recent Sedar Documents

Globe/wire say Brookfield Asset offers to buy Rouse

2016-01-20 09:17 ET - In the News

The Globe and Mail reports in its Wednesday edition that Brookfield Asset Management has made an unsolicited offer to acquire U.S. shopping-mall owner Rouse Properties Inc. for about $657-million (all figures U.S.). A Bloomberg dispatch to The Globe says Brookfield, which already owns about a third of Rouse, said it would pay $17 a share for the remainder in an all-cash transaction. The offer is 26 per cent more than Rouse's closing price on Friday. The deal values the real estate investment trust at about $986-million. As part of the purchase, Brookfield Property Partners would retain the Rouse shares that it currently owns. New York-based Rouse was spun off in 2012 from mall owner General Growth Properties Inc. after General Growth emerged from bankruptcy. The Rouse spinoff contained 30 retail properties in smaller cities and second-tier properties in larger markets. Brookfield Asset Management's Class A shares closed Tuesday at $40.41 (Canadian), up one Canadian cent on the Toronto Stock Exchange.

© 2024 Canjex Publishing Ltd. All rights reserved.