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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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.
To read more, click here.