Brookfield Asset to buy Associated Estates Realty for $2.5 billion

22/04/2015 - 14:33

(Reuters) - Brookfield Asset Management Inc said it had agreed to buy Associated Estates Realty Corp for about $2.5 billion in cash, including debt.

Brookfield (BISA3.BR)Asset Management's offer of $28.75 per share is at a premium of 17.4 percent to Associated Estates' closing price on the New York Stock Exchange on Tuesday.

(Reporting by Sneha Banerjee in Bengaluru; Editing by Simon Jennings)