Brookfield Property submits new offer for mall owner GGP: Reuters
Commercial real estate firm Brookfield Property Partners LP has submitted a new offer to take over GGP Inc, one of the largest owners and operators of U.S. shopping centres, sources told Reuters. The new bid comes more than three months after a special board committee of GGP rejected a US$14.8 billion cash-and-stock acquisition offer from Brookfield Property, its largest shareholder, as inadequate. Brookfield Property’s new offer has a slightly higher cash component and offers GGP shareholders a new security that will trade as a real estate investment trust. The exact value of Brookfield Property’s new bid could not be learned.
19 March 2018•2 mins read
