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Brookfield Asset Management Inc. (BAM) has held preliminary discussions with GGP Inc. (GGP) about acquiring the stake in the mall owner that it doesn’t already own and taking the company private, according to a person familiar with the matter.
Update(s):
November 13, 2017: Brookfield Property Partners L.P. (BPY) today announced that it has made a non-binding proposal to acquire all the outstanding shares of common stock of GGP Inc. (GGP) , other than those shares currently held by BPY and its affiliates (representing approximately 34% of the outstanding shares).
December 11, 2017: GGP Inc (GGP), one of the largest owners and operators of U.S. shopping centers, has rejected a $14.8 billion buyout offer from its biggest shareholder, Brookfield Property Partners LP (BPY), people familiar with the matter said.
March 17, 2018: Commercial real estate company Brookfield Property Partners (BPY) submitted a new offer to take over GGP (GGP).
March 26, 2018: Brookfield Property Partners L.P. (BPY) and the Special Committee of the Board of Directors of GGP Inc. (GGP) have entered into a definitive agreement for BPY to acquire all of the outstanding shares of common stock of GGP other than those shares currently held by BPY and its affiliates.