Brookfield makes another pass at GGP

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Brookfield makes another pass at GGP

By CSA Staff - 03/20/2018
Big mall owner GGP spurned Brookfield Property’s $14.8 billion takeover bid in December, but that hasn’t stopped the aggressive suitor, apparently.

Reuters reported that Brookfield has gone back to the GGP board with a sweeter cash component and an appeal to shareholders that their investments will be more secure if GGP is traded as a REIT. Brookfield already is one of GGPs largest shareholders.

A merger of GGP and Brookfield would create one of the world’s largest publicly traded property companies. Reuters quoted unnamed sources who would not divulge the size of the new offer, but said GGP’s board is mulling the offer.

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