Chicago Developer To Acquire Rouse

"The Rouse Co., the Columbia-based development company that played a major role in the redevelopment of cities across America from Boston to Chicago to Baltimore, where it was a key early player in the revitalization of the Inner Harbor, will be sold to Chicago-based General Growth Properties, Inc.

...General Growth Properties Inc. said that the total value of the acquisition included $5.4 billion in assumed debt, and $67.50 per share in cash, or about $7.2 billion. Rouse's board has approved the transaction, which is subject to shareholder approval."