Rouse Properties to be Acquired by an Affiliate of Brookfield in an All-Cash Transaction Valued at $2.8 Billion

by Katie Sloan

New York City — New York City-based Rouse Properties Inc. (NYSE: RSE) has entered into a definitive agreement to be acquired by an affiliate of Brookfield Asset Management Inc. for $18.25 per share in an all-cash transaction valued at approximately $2.8 billion.

Under the terms of the agreement, Brookfield will acquire all of the outstanding shares of Rouse’s common stock, other than those shares currently held by Brookfield Property Partners L.P. (NYSE: BPY) and it’s affiliates.

The purchase price represents a premium of approximately 35 percent over Rouse’s closing stock price on Jan. 15, 2016 — the last trading day prior to Brookfield’s announcement of a proposal to acquire Rouse — and an increase of $1.25 per share from the $17.00 price originally proposed by Brookfield.

In light of the pending transaction with Brookfield, Rouse will not host an earnings conference call in conjunction with its fourth quarter and full year 2015 results or provide financial guidance. In addition, Rouse will not declare its regular quarterly dividend during the pendency of the transaction

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