General Growth Properties, Chicago, has signed an agreement to acquire The Rouse Co., Columbia, Md., in a deal valued at $12.6 billion.Shareholders of The Rouse Co. will receive $67.50 per share in cash. In addition, GGP will assume $5.4 million of The Rouse Co. debt. GGP was advised by Lehman Brothers, who rendered a fairness opinion to its board of directors. Other GGP advisors were Credit Suisse First Boston and Wachovia Bank and its legal advisors were Sullivan & Cromwell LLP and Neal, Gerber and Eisenberg LLP. Goldman Sachs and Deutche Bank advised Rouse and Fried, Frank, Harris, Shriver & Jacobson LLP and Piper Rudnick LLP were its legal advisors.
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