Tuesday, March 27, 2018

Brookfield To Buy The Rest Of GGP For $9.3B

Globe St

Brookfield Property Partners and GGP have entered into a definitive agreement for Brookfield to acquire the rest of the shares of GGP that it doesn’t already own. The cash-and-stock deal totals $9.25 billion with GGP shareholders entitled to receive $23.50 in cash or stock in either Brookfield or the new REIT that will be formed when the deal closes.

Brookfield Property publicly announced an offer to acquire the remaining shares that it didn’t already own of GGP in November 2017, at $23 per share or $7.4 billion. GGP rejected the offer but talks continued behind the scenes between the two companies.. . . more

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