The Delaware Court of Chancery has rejected a challenge to Brookfield Asset Management Inc.’s role in its $2.8 billion acquisition of Rouse Properties, finding that plaintiffs had failed to show that Rouse’s largest investor had driven the deal in its favor.
Vice Chancellor Joseph R. Slights III on March 9 said that Brookfield, which owned more than 33 percent of Rouse’s stock, did not control 2016 merger talks that resulted in shareholders approving Brookfield’s $18.25 per share offer to buy Rouse, which is a New York-based mall owner.
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