Brookfield to take over U.S. mall operator GGP for $15.3 bln: Reuters
Commercial real estate firm Brookfield Property Partners LP said this week it would acquire the 66 percent of GGP Inc that it does not already own in a cash-and-stock deal that values GGP, one of the largest owners and operators of U.S. shopping centres, at about US$15.3 billion, Reuters reported. The agreement comes four months after a special board committee of GGP rejected a US$14.8 billion cash-and-stock offer from Brookfield as inadequate. Under the latest offer, GGP shareholders can elect to receive US$23.50 in cash per share, or either one Brookfield unit or one newly created share that trades as a real estate investment trust.
27 March 2018•2 mins read
