NEW YORK (TheStreet) -- Rouse Properties (RSE) stock is popping 2.68% to $18.23 Thursday after the shopping mall owner said today that it agreed to Brookfield Asset Management's raised buyout offer valued at $2.8 billion, including debt.
The company will be taken private by an affiliate of Brookfield.
Under the terms of the transaction, Brookfield will pay $18.25 a share to acquire all of Rouse's outstanding common stock, for a total equity value of $1.06 billion.
This offer is higher than the unsolicited bid Brookfield made last month to buy the mall company for $17 a share.
"Brookfield's increased proposal provides shareholders with compelling value as well as a high degree of execution certainty," said David Kruth, chairman of the Rouse board's special committee.
This comes as many shopping malls are under pressure as more consumers turn to online shopping, the Wall Street Journal reports.
Separately, TheStreet Ratings currently has a "Hold" rating on the stock with a letter grade of C-.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including poor profit margins and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: RSE