Brookfield buyout approved

Brookfield Asset Management is taking its mall giant Brookfield Property Partners fully under its control at the tune of 6.5 billion dollars. The initial deal proposed in January was for 5.9 billion dollars. The current deal is going through Ontario Court and is expected to close in Q3 of this fiscal year. Investors hold stock in the property group can elect to take 18 dollars and 17 cents in cash per unit, Brookfield stock, or a combination of the two. The news was reported by Bloomberg.