Headlines

GGP Rejects $14.8B Brookfield Deal

The proposed buyout will not go through

Published

7 years ago

December 11, 2017

kmpeyton

One of the largest U.S. shopping mall operators, GGP (Chicago), has rejected a $14.8 billion buyout offer from Brookfield Property Partners LP (Hamilton, Bermuda), Reuters reports.

As it stands, Brookfield Property already owns a 34 percent share of GGP. The proposed deal was to include a $23-per-share cash and stock offer to acquire the remaining portion of the company. Brookfield Property intended to transform GGP’s shopping centers in an era of growing e-commerce competition.

If the deal went through, the merger would create a company with an ownership interest of nearly $100 billion in real estate assets and would boost Brookfield Property to an annual net operating income of roughly $5 billion. Negotiations are expected to be ongoing.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design