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Mall giant reportedly rejects $14.8 billion buyout offer

It looks like the deal is off.

GGP has rejected Brookfield Property's $14.8 billion buyout offer, CBC reported, citing sources close to the deal. Brookfield is one of GGP's largest shareholders.

The combination of Chicago-based GGP and Brookfield Property would create one of the world's largest publicly traded property companies. Brookfield Property is considering a new offer for GGP after a special committee of GGP's board directors turned down its Nov. 11 offer as inadequate, according to the report. Negotiations between the two companies are expected to continue.

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