Brookfield bids US$14B to acquire further stake in GGP: Report [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
Brookfield bids US$14B to acquire further stake in GGP: Report Brookfield Asset Management Inc. ( BAMa.TO ) has bid more than US$14 billion to acquire the stake it doesn’t already hold in mall owner GGP Inc., ( GGP.N ) according to a person with knowledge of the matter. The Canadian investment firm made an offer of about US$23 per share, the person said, asking not to be identified because the information is private. The price represents a premium of around 21 per cent to GGP’s closing price Nov. 6, the day before Bloomberg News reported Brookfield had held discussions about taking the company private. Brookfield has been focusing on buying and re-purposing shopping centers to take advantage of the they occupy in urban areas, Chief Executive Officer Bruce Flatt said on a conference call last week. The company, which invests across real estate, infrastructure, renewable energy and private equity, said assets under management increased to more than US$265 billion, it said in November. I
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